Spectrum Brands Closes Purchase Of European IAMS, Eukanuba Pet Food Business

(RTTNews) - Spectrum Brands Holdings Inc. (SPB), a diversified consumer products company, on Wednesday said it has completed the acquisition of Procter & Gamble's (PG) European pet food business, consisting of the complementary IAMS and Eukanuba premium brands for dogs and cats. Financial terms of the accretive transaction were not disclosed.

"The addition of these leading brands in an adjacent category better balances the product portfolio of our global pet business while significantly expanding its product offerings and geographic footprint," said Dave Lumley, Chief Executive Officer of Spectrum Brands.

The IAMS and Eukanuba European pet food business has annual sales of about $200 million.