Mars Closes Acquisition Of P&G's Pet Food Business In Australia, New Zealand

(RTTNews) - Privately-held confectionery company Mars Inc. Sunday said it completed the acquisition of the Iams and Eukanuba pet food brands from Procter & Gamble Co. (PG) in Australia and New Zealand.

Mars has already acquired Procter & Gamble's pet food business in North America, Latin America and other select countries.

The Iams and Eukanuba brands will be part of Mars Petcare, which include popular brands like Pedigree, Whiskas, and My Dog.

This move is a strategic addition to Mars' robust pet care portfolio that will enable Mars Petcare to meet the needs of more customers and pets in Australia and New Zealand, the company said.

In April, Mars agreed to buy Iams and other pet-food brands from Procter & Gamble for $2.9 billion, in order to further strengthen its position in the pet-food industry.