-
Reports: P&G shareholder suggests sale of Iams pet food brand
NEW YORK — Procter & Gamble may be able to sell its Iams pet food unit to Del Monte Foods Co., according to published reports.
Bloomberg reported that P&G CEO A.G. Lafley was under pressure to improve the company's business and that shareholder HighMark Capital Management said it could increase its share price by selling some assets, including Iams. Del Monte, HighMark said, would be a "logical" buyer for Iams, valued at around $2.5 billion, because it's looking to grow its pet food business.
-
Survey finds widespread misconceptions about pet food, health
PHILADELPHIA — Many pet owners are confused about pet nutrition and industry standards, according to a new survey.
The survey, conducted by petMD, found that nearly 80% of respondents were aware of the importance of a balanced diet for their pets, but less than half had ever checked the label of their pet's food to make sure it met industry-wide standards.