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Is P&G Getting Ready To Divest Its Pet Food Brands?

November 5, 2013: 12:00 AM EST
Procter & Gamble may be on the verge of divesting its pet food brands, Iams and Eukanuba, according to industry observers. The main reason would appear to be “underperformance” and a lack of “fit”, says Leon Loewenstine of Riverpoint Capital Management. A possible purchaser would be Del Monte Foods, which just sold off it6s consumer brands business and wants to build its own pet food business, which includes brands Meow Mix, Kibbles ’n Bits, Milk-Bone and 9Lives. Pressure to divest underperforming products is increasing for P&G, whose stock could take a hit unless investors see some efforts to streamline.
Rachel Richardson, "Pet food not P&G’s Bag? Why P&G might shed pet food", Cincinnati.com, November 05, 2013, © news.cincinnati.com/Gannett
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