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Newsletter - Animal Writes sm
15 August 1999 Issue

Procter & Gamble Buys Iams

In the past, groups concerned about animals have promoted the boycott of Iams Dog Food because the Iams Company supported the Iditarod. Now there is another reason to do so. Proctor & Gamble, the company that leads the way in doing product testing on animals, is buying premium pet food maker Iams Company for $2.05 billion, which is P&Gs biggest purchase ever.

Pet food is a $25-billion business, growing at 3% to 5% annually. Premium pet food accounts for $2.5 billion of the total, but that segment is growing at twice the industry rate. Here are the companies with the largest share of the premium pet food market:
Hills' Pet Nutrition Inc. (Colgate): 33%
Iams Co.: 27%
Ralston-Purina Co.: 15%
Other: 25%

"P&G hopes to substantially expand Iams' pet food sales in foreign markets. Iams' international sales now represent about 30 percent of the company's total revenues, even though two-thirds of the global pet nutrition market exists outside of North America, P&G executives said.

Iams sells Eukanaba and Iams premium dog and cat foods, dry and canned varieties, in 77 countries. It has annual sales of more than $800 million.

The Cincinnati-based maker of consumer products, including Tide detergent and Pampers diapers, has annual worldwide sales of $38.1 billion.

Shares of P&G fell 50 cents to $93.50 in trading on the New York Stock Exchange.

Go on to Animal-to-Human Organ Transplants: Creating the Next AIDS
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