Spectrum acquires P&G pet food unit in Europe

Spectrum acquires P&G pet food unit in Europe

Spectrum Brands expands European companion animal product line through acquisition, while P&G exits pet market.

SPECTRUM Brands Holdings Inc., a global and diversified consumer products company with market-leading brands, announced Sept. 23 the signing of a definitive agreement to acquire Procter & Gamble's (P&G) European pet food business, which consists of the complementary IAMS and Eukanuba premium brands for dogs and cats.

Financial terms of the transaction were not disclosed.

The business has annual sales of approximatel

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