P&G sells pet food brand to Mars for $3bn

PROCTER & Gamble is selling the bulk of its pet food business to Mars for $2.9bn (£1.7bn) to focus more on its personal care and cleaning brands, the consumer giant said yesterday. The privately held Mars, best known for its chocolate bar, will buy the Iams brand, as well as Eukanuba and Natura, in the Americas and other selected countries.