Procter and Gamble says Mars Incorporated has agreed to buy the IAMS, EUKANUBA, and NATURA brands for $2.9 billion in cash.
A release says the companies expect to complete the transaction in the second half of 2014, subject to regulatory approvals. Mars currently owns PEDIGREE, WHISKAS, BANFIELD, and ROYAL CANIN.
Mars Petcare Global President, Todd Lachman, said: “We view the addition of the IAMS, EUKANUBA, and NATURA brands as exceptionally strategic. This acquisition is a perfect fit with our Mars Petcare vision of making a better world for pets."
Procter & Gamble says it's committing to no deforestation in its palm oil supply chain. The Cincinnati-based consumer products company says it's going to improve its practices with all its suppliers, including small local farmers, to ensure protection of forests.
Greenpeace activists staged several protests last month around the world, including one at the company's downtown headquarters. They said P&G used palm oil from a supplier tied to tropical forest destruction.
Nine Greenpeace activists who hung signs on Procter & Gamble's downtown headquarters this month entered not guilty pleas Friday through their attorney. They are charged with burglary and vandalism.
If convicted of the March 4th incident, the charged from New York, Maryland and Washington D.C., Illinois and California, could be sentenced to nine and a half years in prison and have to pay a $20,000 fine.
Nine people have been indicted for illegally hanging banners March 4 at Procter & Gamble headquarters in downtown Cincinnati.
The Hamilton County Prosecutor's office says the nine, from Maryland, Washington DC, Illinois, California and New York, are charged with burglary and vandalism. If convicted of all charges, they face the possibility of 9 ½ years in prison and a $20,000 fine.