Buyout shows Americans' appetite for pricey pet food

A dog is seen eating dry food in this undated file photo.
April 10, 2014 7:41:43 AM PDT
Candy-maker Mars this week showed it has a sweet tooth for dog food: It will spend $2.9 billion to acquire three upscale pet food brands from Proctor & Gamble -- Iams, Eukanuba and Natura.

The move illustrates two trends: Americans are spending more on pet food, and they are willing to pay a premium for the kind of food they, themselves, would like to eat.

Kobe beef dog food? It's out there, available on Amazon, at $41.54 for 12 cans.

"Kobe Master" is made by small, independent, boutique pet food producer WeRuVa (slogan: "people food for pets").

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