Former Mars Petcare Exec Accused of Stealing Secret Documents (pet health)
Mars Petcare has sued its former CFO and his new employer, JAB Holdings, accusing the exec of stealing more than 6,000 company documents and sharing them with his new colleagues.
JAB Holdings, primarily known for owning Panera Bread, Krispy Kreme, Einstein Bagels and other popular consumer brands, has denied the claim.
The stolen documents are probably related to vet clinics. While Mars and JAB are both conglomerates owning dozens of popular companies, the primary point of competition between the two is in the ownership of veterinary hospitals.
Mars owns a network of over 2,500 pet hospitals in the US and Europe, including the VCA, Banfield, AniCura, and Linnaeus chains.
JAB Holdings recently entered this market, buying the 41-location Compassion-First Pet Hospital chain in February 2019 for $1.2 billion. Three months later JAB acquired National Veterinary Associates, which owned 800 vet hospitals in the US, Canada, Australia and Singapore.