Mars Completes $2.9 Billion Acquisition of Procter & Gamble’s Pet Food Business in Major Markets
Mars has successfully completed its $2.9 billion (Eur2.2 billion) cash acquisition of the IAMS®, EUKANUBA® and NATURA® brands in North America, Latin America and other select countries from Procter & Gamble. This follows an agreement announced by the companies in April 2014 and receipt of all necessary regulatory approvals.
Mars has also announced that it will exercise the option to purchase P&G’s pet food business in some parts of Asia Pacific, Middle East and Africa, including Australia, Japan and Singapore. This move reinforces the company’s strategic intent to build its presence in emerging markets and will enable Mars Petcare to meet the needs of more customers and pets around the world. Mars expects that the close for these additional businesses may take up to around a year, subject to regulatory approvals.
The IAMS®, EUKANUBA® and NATURA® brands will be part of Mars Petcare and are strategic additions that complement the company’s robust pet care portfolio. They join stable mates PEDIGREE®, WHISKAS®, ROYAL CANIN®, BANFIELD® and NUTRO®.
Mars Petcare, the largest business for Mars, is one of the world’s leading pet food and veterinary care providers and employs more than 35,000 people across 50 countries.
