MARS, INCORPORATED COMPLETES ACQUISITION OF PROCTER & GAMBLE'S PET FOOD BUSINESS
Aug. 4, 2014
Source: Mars, Inc. press release
McLean, Virginia -- Mars, Incorporated announced today that it has successfully completed its acquisition of the IAMS, EUKANUBA and NATURA brands in North America, Latin America and other select countries from The Procter & Gamble Company (NYSE: PG). This follows an agreement announced by the companies in April 2014 and receipt of all necessary regulatory approvals.
Mars also announced today 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.
"We are proud to welcome the IAMS, EUKANUBA and NATURA brands and the new associates who are joining us today," said Todd Lachman, President of Mars Petcare. "These brands are high quality and well respected by customers, vets and pet owners, and we believe they will thrive under our leadership. Together, we will be well positioned to take advantage of the fast growing pet care market, and satisfy the needs of more customers and pets around the world."
Mars Petcare, the largest business for Mars, Incorporated, is one of the world's leading pet food and veterinary care providers and employs more than 35,000 Associates across 50 countries.