Mars, Incorporated Buys Iams, Eukanuba and Natura Pet Food Brands from P&G
Mars, Incorporated announced today it is buying most of P&G's pet food business for $2.9 billion in cash. The transactions includes the Iams, Eukanuba and Natura brands. Mars currently owns the following pet food brands: Pedigree, Whiskas, Banfield and Royal Canin.
Mars Petcare Global President says in a statement, "We view the addition of the Iams, Eukanuba, and Natura brands as exceptionally strategic. This acquisition is a perfect fit with our Mars Petcare vision of making a better world for pets. The deal reinforces our leadership in pet nutrition and veterinary science, attracts world class talent and grows our world leading portfolio. Paul Iams, an animal nutritionist, founded the Iams Company in 1946. His philosophies created very strong foundations for these remarkable brands which will now complement our existing Mars Petcare portfolio."
Reuters reports that P&G is seeking buyers in Europe for its remaining pet food brands.
Posted on April 9, 2014