Mars, Incorporated and The Procter & Gamble Company officials announced today Mars has agreed to buy the Iams, Eukanuba, and Naturabrands for $2.9 billion. The companies are expected to complete the transaction during the second half of 2014.
This acquisition is significant for Mars Petcare while the company expands its growing pet care business.
Mars Petcare is a leading pet food and veterinary care provider with a company presence spanning 50 countries. Upon completion of the transaction, Iams, Eukanuba, and Natura brands will join Mars Petcare’s brands Pedigree, Whiskas, Banfield and Royal Canin.
The geographic regions included in the acquisition are North America, Latin America and other selected countries. These regions account for roughly 80 percent of the P&G Pet Care’s global sales. The agreement also includes an option for Mars to acquire the business in several additional countries.
“We view the addition of the Iams, Eukanuba and Natura brands as exceptionally strategic,” said Mars Petcare Global President Todd Lachman. “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.”