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Mars to buy pet brands from Procter & Gamble for $2.9 billion

Mars to buy pet brands from Procter & Gamble for $2.9 billion

Confectionary giant Mars Inc. is buying most of Procter & Gamble's pet food business for $2.9 billion, a move that will shore up the company's growing pet care business.

The all-cash deal will add the Iams, Eukanuba and Natura brands in North America and Latin America to Mars’ pet food lineup.

Tom Lachman, the global president of Mars Petcare, said he viewed the acquisitions as “exceptionally strategic.”

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“The deal reinforces our leadership in pet...

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