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P&G Bailing Out Of Pet Food?

Is Procter & Gamble considering selling off Iams and Eukanuba pet food? Chief executive A.G. Lafley suggested he might do that. “Iams just doesn’t fit their core business,” said Leon Loewenstine, managing director at Riverpoint Capital Management. “And Lafley’s under pressure to take bolder action to grow sales.” Lafley has a track record of selling off underperforming food businesses, as he did with Jif peanut butter and Crisco shortening.

Read the whole story at Cincinnati Enquirer »

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