|P&G Acquires Natura Pet Products|
CINCINNATI, May 5, 2010 /PRNewswire via COMTEX/ --The Procter & Gamble Company (NYSE: PG) has signed an agreement to acquire Natura Pet Products, Inc., a privately-held pet food business based in Davis, California.
This move enables P&G to expand into the attractive "holistic and naturals" segment of the pet food category, complementing P&G's current Iams and Eukanuba brands and helping the Company advance its overall growth strategy of "reaching more consumers in more parts of the world more completely."
Natura's brands include Innova, Evo, California Natural, Healthwise, Mother Nature and Karma. These brands are sold in a limited number of pet specialty stores and through veterinarians, mainly in the United States and Canada.
"These outstanding brands and the great employees of Natura Pet Products will complement our Eukanuba and Iams brands very well," said Dan Rajczak, senior vice president of P&G's global pet care and snacks businesses. "This acquisition gives us a strong position in the holistic and natural pet food segment. It will enable us to enhance the health and well-being of even more dogs and cats and represents an exciting new source of growth for our business."
"It's time for the right company to take our brands to the next level of growth. P&G is that company," said John Rademakers, founder and owner of Natura Pet Products. "We know that P&G will honor our history as they capitalize on their strengths to build these brands."
Natura Pet Products employs about 140 people, mainly at its production sites in San Leandro, California and Fremont, Nebraska. P&G is targeting to close this deal in about a month, subject to customary closing conditions and regulatory clearances. Specific terms of the deal are not being disclosed.
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SOURCE Procter & Gamble