Mars, best known for its chocolate, bets $10.5 billion on pets
The company name Mars evokes images of M&M’s, Snickers and Dove chocolate, and possibly Wrigley chewing gum.
Soon, a majority of its business will be related to pets, thanks to a $US7.7 billion ($10.5 billion) acquisition.
Mars agreed to buy VCA, a company that owns about 800 animal hospitals, a lab business and dog day care franchises that operate under the name Camp Bow Wow. VCA will be part of Mars Petcare but will operate as a "distinct and separate business unit", the companies said in a statement on Monday.
Poul Weihrauch, the president of Mars Petcare, said in an interview that Mars’ "love story" with pets goes back to 1935. That year, Forrest Mars Snr bought Chappell Brothers, giving the confectionary company access to Chappie brand canned dog food. Mars increased its pet offerings in the 1990s, introducing brands like Pedigree and Whiskas. Sydney Morning Herlad – Read more…
Soon, a majority of its business will be related to pets, thanks to a $US7.7 billion ($10.5 billion) acquisition.
Mars agreed to buy VCA, a company that owns about 800 animal hospitals, a lab business and dog day care franchises that operate under the name Camp Bow Wow. VCA will be part of Mars Petcare but will operate as a "distinct and separate business unit", the companies said in a statement on Monday.
Poul Weihrauch, the president of Mars Petcare, said in an interview that Mars’ "love story" with pets goes back to 1935. That year, Forrest Mars Snr bought Chappell Brothers, giving the confectionary company access to Chappie brand canned dog food. Mars increased its pet offerings in the 1990s, introducing brands like Pedigree and Whiskas. Sydney Morning Herlad – Read more…
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