P&G Selling Pet Food Brands to Mars for $2.9B

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MCLEAN, Va. — Procter & Gamble is selling some of its pet food brands to Mars for $2.9 billion as part of its turnaround plan that includes concentrating on its most profitable core businesses.

The world’s biggest consumer products maker, whose products include Tide detergent and Crest toothpaste, announced Wednesday that it is selling the Iams, Eukanuba and Natura brands in North America, Latin America and certain other countries.

Mars, which is better known for its candy brands, already owns pet care brands such as Pedigree, Whiskas, Banfield and Royal Canin.

Read the entire USA Today article here.

Short URL: http://caninechronicle.com/?p=46827

Posted by chesliepickett on Apr 14 2014. Filed under Breaking News, Featured. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.