This follows an agreement announced by the companies in April 2014 and receipt of all necessary regulatory approvals.
In addition, Mars also announced 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 P&G brands join Mars Petcare established brands, of Pedigree, Whiskas, Royal Canin, Banfield, Greenies, 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, and employs more than 35,000 associates across 50 countries.