Procter & Gamble Co. has signed a deal to buy privately held pet food company Natura Pet Products Inc., the consumer products company said Wednesday.
Terms of the transaction were not disclosed.
Natura, whose brands include Innova, Evo, Healthwise and Karma, sells its products mostly at specialty pet stores and through veterinarians in the U.S. and Canada. The privately held company is based in Davis, Calif.
Procter & Gamble said the acquisition gives it access to the holistic and naturals pet food segment, which will complement its existing Iams and Eukanuba brands.
Procter & Gamble hopes to close the deal in about a month.
Last month Procter & Gamble, which makes Tide detergent, Pampers diapers and other products, reported that its fiscal third-quarter profit dipped 1 percent but revenue rose 7 percent as households around the globe responded to new products, price cuts and stepped-up advertising.
The company's stock added 52 cents to $62.23 in midday trading.