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P&G Sells Pet Food Business To Mars In $2.9 B Deal

April 10, 2014: 12:00 AM EST
Procter & Gamble is selling its pet food division to candymaker Mars Inc. for $2.9 billion in cash to focus more closely on its personal care and fabric care businesses. Market analysts said P&G is taking the step to boost stock value after several recalls of Salmonella-tainted pet food damaged the bottom line. Virginia-based Mars will keep 1,100  P&G employees in the Cincinnati, Ohio, area, and will acquire five pet food manufacturing sites in the U.S. P&G will retain ownership of the Cincinnati facilities, as well as two pet food factories that make other P&G products outside the U.S. P&G’s pet foods include the billion-dollar Iams brand, Eukanuba and Natura. Mars has a pet food division based in Belgium.
Barrett J. Brunsman, "Hundreds of Cincinnati jobs affected by P&G sale of pet food brands", Cincinnati Business Courier (Ohio), April 10, 2014, © American City Business Journals
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