Spectrum Brands Buying Procter & Gamble’s European Pet Food Business

Spectrum Brands Holdings Inc. said Tuesday that it has agreed to buy the European pet food business of Procter & Gamble Co., which includes the IAMS and Eukanuba premium brands of dog and cat foods.

Financial terms of the transaction were not disclosed. The P&G business has about $200 million in annual sales and serves 42 markets throughout Europe.

Middleton-based Spectrum Brands (NYSE: SPB) is the consumer products company that manufactures and markets Rayovac batteries, Remington shavers and Toastmaster and George Foreman small appliances. Its United Pet Group division, based in Cincinnati and with annual sales of about $600 million, produces pet supplies under the Tetra, Marineland, FURminator, Nature’s Miracle and Dingo brands. The acquisition expands United Pet Group’s reach into the $21 billion European dog and cat food market, which the company said is growing at an estimated 3 percent to 5 percent annually.

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Posted by chesliepickett on Sep 24 2014. Filed under Featured, World News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.