FDBusiness.com

Mars to Expand Pet Care Business With $2.9 Billion Acquisition

 Breaking News
  • Unilever Delivers Solid Volume Growth Unilever has announced its results for the first half of 2018, which show a solid all-round performance despite some challenging markets. Turnover decreased 5.0% to €26.4 billion including an adverse translational currency impact of 8.9% but underlying sales growth excluding spreads was 2.7% with volume 2.5% and price 0.2%. Unilever’s underlying operating margin improved by [...]...
  • Arla Foods Warns of ‘Dairy Dilemma’ of Impossible Choices Post-Brexit At a recent event held at the London School of Economics (LSE), pan-European dairy co-operative Arla Foods warned that if the findings of a LSE report prove true, non-tariff barriers to trade and restricted access to labour after Brexit will leave British consumers facing a dairy dilemma which could see the availability of butter, yoghurts [...]...
  • McCann’s Irish Oatmeal Sold to B&G Foods TreeHouse Foods, the US-based food and beverage group, has completed the sale of the McCann’s Irish Oatmeal brand to B&G Foods for $32 million, subject to customary closing and post-closing adjustments. The McCann’s Irish Oatmeal brand generated sales of approximately $13 million in 2017. The transaction is expected to have a negligible impact on TreeHouse’s [...]...
  • European Olive Oil Market Worth €3 Billion – Shoppers Focus More on Quality Than Price Poor harvest conditions continue to provide a challenging backdrop to the Olive Oil market, according to the latest analysis of value and volume sales across Europe (UK, France, Germany, Greece, Italy, Spain and the Netherlands) by IRI, the big data and technology expert for consumer industries. While six of the seven countries analyzed post value sales growth close to 6% [...]...
  • Countdown Begins to the UK’s Leading Processing & Packaging Machinery Event – NEC Birmingham- 25-27 September 2018 Celebrating its 30th anniversary this year, the PPMA Show will return to the NEC Birmingham from 25-27 September 2018 to showcase the latest innovations in smart manufacturing, processing technology and packaging machinery, aimed to increase production line efficiencies and enhance business performance and profitability. New to the show this year will be the Enterprise Zone, [...]...

Mars to Expand Pet Care Business With $2.9 Billion Acquisition

Mars to Expand Pet Care Business With $2.9 Billion Acquisition
April 10
10:53 2014

Mars Incorporated has agreed to acquire the IAMS®, EUKANUBA® and NATURA® pet care brands in major markets from Procter & Gamble for $2.9 billion in cash. The deal is a significant strategic move for Mars Petcare to complement its large and growing global petcare business.

The geographic regions included in the acquisition, which account for approximately 80% of P&G’ global pet care sales, include North America, Latin America and other selected countries.

The agreement includes an option for Mars to acquire the business in several additional countries. Markets not included in the transaction are primarily European Union countries. P&G is developing alternate plans to sell its pet care business in these markets.

The companies expect to complete the transaction in the second-half of 2014, subject to regulatory approvals.

Mars Petcare is one of the world’s leading pet food and veterinary care providers and employs more than 35,000 people across 50 countries. Upon completion of the transaction, IAMS®, EUKANUBA®, and NATURA® brands will join Mars Petcare’s billion dollar stable mates PEDIGREE®, WHISKAS®, BANFIELD®, and ROYAL CANIN®.

Mars Petcare global president, Todd Lachman, says: ” This acquisition is a perfect fit with our Mars Petcare vision of making A BETTER WORLD FOR PETS™. The deal reinforces our leadership in pet nutrition and veterinary science, attracts world class talent and grows our world leading portfolio.

P&G’s chairman, president and chief executive, AG Lafley, says: “Exiting Pet Care is an important step in our strategy to focus P&G’s portfolio on the core businesses where we can create the most value for consumers and shareowners. The transaction creates value for P&G shareowners, and we are confident that the business will thrive at Mars, a leading company in pet care.”

Based in McLean, Virginia in the US,  Mars Incorporated has net sales of more than $33 billion, six business segments including Petcare, Chocolate, Wrigley, Food, Drinks, Symbioscience, and more than 75,000 employees worldwide.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements