Amazon is jumping into the dog food business. Amazon (AMZN) will begin with dry dog food and add products later, spokesperson Nell Rona said. Wag adds to Amazon's rapidly expanding private label line, which includes AmazonBasics household products, Wickedly Prime food, Stone & Beam furniture and Presto cleaning products. Pet food is growing faster than the broader packaged food industry, led by owners willing to buy higher-priced foods with natural ingredients for their pets. Related: Amazon made Prime indispensable - here's howAmazon is also a risk to Colgate-Palmolive (CL)'s Hill's brand, Mars' Pedigree line and Nestle SA's Purinam.

Source: CNN May 03, 2018 21:45 UTC