Mars, Incorporated Completes Acquisition of Procter & Gamble's Pet Food Business in Major Markets Mars Also to Exercise Option for Procter & Gamble's Pet Food Business in Additional Markets
MCLEAN, Va., Aug. 1, 2014 /PRNewswire-USNewswire/ -- Mars, Incorporated announced today that it has successfully completed its acquisition of the IAMS®, EUKANUBA® and NATURA® brands in North America, Latin America and other select countries from The Procter & Gamble Company (NYSE: PG). This follows an agreement announced by the companies in April 2014 and receipt of all necessary regulatory approvals.
Mars also announced today 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 IAMS®, EUKANUBA® and NATURA® brands will be part of Mars Petcare and are strategic additions that complement the company's robust pet care portfolio. They join stable mates PEDIGREE®, WHISKAS®, ROYAL CANIN®, BANFIELD® 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, is one of the world's leading pet food and veterinary care providers and employs more than 35,000 Associates across 50 countries.
About Mars, Incorporated
In 1911, Frank C. Mars made the first Mars candies in his Tacoma, Washington kitchen and established Mars' first roots as a confectionery company. In the 1920s, Forrest E. Mars, Sr. joined his father in business and together they launched the MILKY WAY® bar. In 1932, Forrest, Sr. moved to the United Kingdom with a dream of building a business based on the objective of creating a "mutuality of benefits for all stakeholders" – this objective serves as the foundation of Mars, Incorporated today. Based in McLean, Virginia, Mars has net sales of more than $33 billion, six business segments including Petcare, Chocolate, Wrigley, Food, Drinks, Symbioscience, and more than 75,000 Associates worldwide that are putting its Principles into action to make a difference for people and the planet through its performance.
Mars brands include: Petcare – PEDIGREE®, ROYAL CANIN®, WHISKAS®, BANFIELD® Pet Hospital, NUTRO®, SHEBA®, DREAMIES® and CESAR®; Chocolate – M&M'S®, SNICKERS®, DOVE®, GALAXY®, MARS®, MILKY WAY® and TWIX®; Wrigley – DOUBLEMINT®, EXTRA®, ORBIT® and 5™ chewing gums, SKITTLES® and STARBURST® candies, and ALTOIDS® AND LIFESAVERS® mints. Food –UNCLE BEN'S®, DOLMIO®, EBLY®, MASTERFOODS®, SEEDS OF CHANGE® and ROYCO®; Drinks – ALTERRA ® Coffee Roasters coffee, THE BRIGHT TEA CO.® tea, DOVE®/GALAXY® Hot Chocolate, and FLAVIA® brewer; Symbioscience – COCOAVIA® and WISDOM PANEL®.
For more information, please visit www.mars.com. Follow us: facebook.com/mars, twitter.com/marsglobal, youtube.com/mars.
SOURCE Mars, Incorporated