Mars, the maker of M&M's chocolate candy and one of the world's largest private companies, will shell out $2.9 billion in cash for a large chunk of Procter & Gamble's pet care business, which includes the pet care brands Iams, Eukanuba and Natura. Mars will add those brands to an existing portfolio that consists of Pedigree and Whiskas. The transaction will not be the only pet deal this year, though. Blue Buffalo, a fast-growing provider of all-natural pet food, is expected to IPO later in 2014.
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