Mars Incorporated has completed its acquisition of the Iams and Eukanuba pet brands from The Procter & Gamble Company in Australia and New Zealand. This follows an agreement announced by the companies earlier in 2014 and receipt of all necessary regulatory approvals. Mars has already acquired Procter & Gamble's petfood business in North America, Latin America and other select countries.

The Iams and Eukanuba brands will be part of Mars Petcare, joining brands Pedigree, Whiskas, My Dog, Dine, Optimum, Royal Canin, Nutro and Advance. The move is a strategic addition to the company's pet care portfolio that will enable Mars Petcare to meet the needs of more customers and pets in Australia and New Zealand, said the company. "Owning a pet is an important part of many people's lives in Australia and New Zealand—there are over 8.5 million pet cats and dogs," said Sylvia Burbery, general manager Australia, Mars Petcare. "Pets are an essential part of society and provide invaluable support in facilitating human interaction, social connections and providing companionship. Iams and Eukanuba are great products and are a welcome addition to our petfood offering. They complement our existing brands and will help us better meet the needs of our much loved pets."