Proctor and Gamble 2000 Annual Report Download - page 11

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9
We are focusing on making optimal choices for
our investments in new brands and product cate-
gories, to maximize commercial success and
financial return.
In September 1999, after careful scrutiny, P&G
entered an entirely new business when it acquired
the Iams Company, a world leader in pet health and
nutrition. Iams is very similar to P&G in its core val-
ues, strong brand names, research investment for
superior products, and history of leading innovation.
We quickly assessed the growth opportunity.
Globally, we are only scratching the surface of
Iams’ potential with about a 4% share of the
$25 billion commercially prepared pet food market.
Iams sells its Eukanuba and Iams brands of dog
and cat food in 77 countries.
In the six months following the acquisition, P&G
expanded the Iams brand to 25,000 additional
retail outlets in North America. (Its super-premium
Eukanuba brand continues to be sold only in pet
specialty stores.)
The results of this expansion have been outstanding.
This year, the Iams Company reached $1 billion in
sales, up 25% from when P&G acquired it.
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Go to www.iams.com to register to win a one-year supply of pet food and find valuable information about pet care.
A New Way to Grow
ACTION PLAN
02
INVEST IN INNOVATION AND NEW BUSINESS
CASE IN POINT IAMS
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