11:40 am Spectrum Brands Acquires PG's European Pet Food Business
Procter & Gamble (PG 84.76, -0.05) has been aiming to shed a number of brands that aren't considered part of its core business. Accordingly, it announced a $2.9 billion deal last April to sell a significant chunk of its global pet care business to Mars, Inc.
The regions covered in the Mars acquisition included North American, Latin America, and other selected countries that accounted for roughly 80% of sales for PG's global pet care business. At the time of the deal, PG said markets not included in the …More