>> Speak.>> Dog owners and their willingness to pamper their pooches with high end food and products has investors jumping into the pet market. That's good news for brands like Kurgo, which has been manufacturing dog harnesses for nearly 15 years out of an office in Massachusetts. Kurgo's owner, Gordie Spater, told Reuters that he has been swamped with inquiries every week from private equity funds and companies attracted by the growth potential of this new consumer segment.
>> We think that there's a great opportunity in accessories and we have some toys here, a lot of other travel accessories for getting out and doing things with your dog. And now what we see is people are bringing their dogs all over the place and that's why there's a lot of investor interest in the category because there really is a future trend that's going on.
And once you make a commitment to your dog, my dog Baxter, you're committed to the dog. It's like having a child, it doesn't go away.>> As the market for furry friends continues to grow, it has created a boom in pet-related deals around the world. Just last month, food company General Mills, in a move to counter declining sales of processed foods, bought out Blue Buffalo pet products for a whopping $8 billion.
That's just one of the 28 deals in the pet industry so far this year. Reuters correspondent Harry Brumpton.>> A lot of these food companies are rapidly reorienting and a lot of retail companies are really trying to steer towards pets as well. It's one of the more early and conventional areas of pet spending, and as the market evolves, the deal making is spreading into new avenues, such as pet toys, and pet travel gear, all sorts of experiences, and all sorts of services.
Pet grooming is a small but growing industry, as well.>> The recent boom in deals is just scratching the surface. Experts predict more tie-ups and buy-outs as consumers continue to splurge on their pets.