Older consumers spend a lot of income on pet food - no longer with P&G

P& G is selling its three major pet food brands to Mars, the leader in the $74.5 billion global pet food market, for $2.9 billion. It does not include P&G’s pet food business in Europe, which it is working to sell separately.

Pet food is becoming a higher-margin business fuelled by the spending of affluent animal lovers in mature markets.  Not just mature markets but mature consumers.

The decision seems to be driven by the low market share the company has (less than 5%)  far behind Mars and Nestlé  which together control nearly half the business worldwide.

I wonder why the European business is being handled differently? Dick Stroud