Why people food companies are buying pet food companies

People love their pets. And while you may think Fido is your little “fur baby,” big food companies see your pet as a potential money maker. According to the American Pet Products Association, retail sales of pet food have nearly doubled in the U.S. in the last decade, to more than $30 billion. That’s led some major food companies to buy up pet food businesses, including the cereal company General Mills, which last year bought Blue Buffalo Pet Products for $8 billion.