Swiss behemoth Nestlé has announced plans to invest over US$10m in its pet food operations in Buenos Aires.

Nestlé, which launched its US$250m pa pet food business in Argentina during the 1980s, has gradually increased its market share from 5% to 60%. Its recent acquisitions of Cargill's local pet food operations and the pet food brands of giant Ralston Purina for US$10.3bn gave Nestlé the lead in the dog and cat food market.

Nestlé's sector rivals include Argentinean company Sagemuller and multinational groups such as Procter & Gamble and Mars subsidiary Effem.