Mars signals the green light for acquisition

Mars has today announced that the acquisition of Procter & Gamble’s pet food business in North America, South America and other selected countries has been completed. The transaction covers the Iams, Eukanuba and Natura brands. Selected countries in Europe include Turkey and Russia. Mars now has the opportunity within the next 15 days to declare the other countries for which the company wishes to redeem the option, pending the consent of the cartel authorities. The countries on offer include Australia, Singapore, Taiwan, New Zealand, Ukraine, Japan and some African countries, while nearly all European countries are excluded from the takeover. Mars hopes to strengthen its market position in some up-and-coming markets with this acquisition. The company expects completion of the takeover to take up to a year for the additional countries.