Mars Inc., which is well known for candy brands such as M&M’s, is staking much of its future to its pet care business, Bloomberg reports.
Pet care now accounts for about half of the company’s business, CEO Grant Reid told the news outlet. Among the McLean, VA-based company’s brands are Whiskas and Pedigree.
The pet care industry may be a good refuge for privately held Mars as increasingly health-conscious consumers turn away from sugary treats, Bloomberg reports.
The company “avoids marketing [its candy] to children and was the first to place nutrition labels on the front of packaging,” according to the article.
That’s “the right thing to do,” Reid said, noting that “we want to be transparent.”
Advertisement
There’s also synergy in that candy and many pet care products are sold at similar retail points, Bloomberg notes.
Mars has grown its pet care business in part through acquisitions. In January 2017, for example, it announced that it was paying more than $9 billion for VCA Inc., a company that operates animal hospitals.
Read more at the Bloomberg
