Mars, Incorporated To Buy Significant Portion Of Procter & Gamble's Pet Food Business In A Key Strategic Move

Mars, Incorporated To Buy SignificantMars, Incorporated To Buy Significant Portion Of Procter & Gamble's Pet Food Business In A Key Strategic Move PR Newswire MCLEAN, Virginia and CINCINNATI, April 9, 2014 - Mars, Incorporated agrees to acquire IAMS®, EUKANUBA®, and NATURA® brands for US$2.9 Billion in cash. - Brands have strong strategic fit with Mars' Petcare business: Acquisition complements Mars' global Petcare portfolio. - Transaction is subject to regulatory approvals and excludes the majority of European markets. Mars, Incorporated and The Procter & Gamble Company (NYSE:PG) ® ®today announce that Mars has agreed to buy the IAMS , EUKANUBA , ®and NATURA brands in major markets for US$2.9 Billion in cash. This is a significant strategic move for Mars Petcare to complement its large and growing global Petcare business. 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 Associates 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, said: "We view the ® ® ®addition of the IAMS , EUKANUBA , and NATURA brands as exceptionally strategic.