More U.S. households have pets than children, according to the American Pet Products Association. About 39 percent of the estimated $59 billion in pet-related spending was on food last year, according to its website. "With approximately two-thirds of U.S. households having at least one family pet, we will now be able to serve the mealtime and snacking needs of the whole family," Chief Executive Richard Smucker said in a statement. Smucker said it would offer about 17.9 million shares to shareholders of Big Heart, formerly Del Monte Corp, and pay $1.3 billion in cash.
from Business News Headlines - Yahoo! News http://ift.tt/1z8NwE7
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