In a landmark moment for India’s consumer goods and pet care sectors, Drools Pet Food Pvt. Ltd. has become the country’s first pet food unicorn following a minority investment from Nestlé S.A., the Swiss parent company of Nestlé India. While the exact valuation and investment size remain undisclosed, the company confirmed that it will continue to operate independently in both strategic and operational terms.
\r\n\r\nThis follows a $60 million minority stake investment by L Catterton in June 2023. Backed by the global private equity firm associated with LVMH, Drools has since focused on scaling its operations and cementing its position as India’s largest homegrown pet food brand.
\r\n\r\nFounded in 2010 by Fahim Sultan, Drools has grown from a niche startup into a market leader, boasting 650+ SKUs, distribution in over 40,000 retail outlets, and exports to 22 countries. The brand also leads in the cat food segment on major platforms like Amazon.
\r\n\r\n“This is a testament to the love and trust of millions of pet parents and to our unwavering commitment to quality,” said Fahim Sultan. “With a strong focus on science-based nutrition, we aim to build meaningful engagement with India’s evolving pet parenting demographic.”
\r\n\r\nDrools’ operational infrastructure includes six manufacturing units, a 1.6 million sq. ft. warehousing network, and a team of 3,400 employees, nearly half of whom are focused on sales.
\r\n\r\nAnjana Sasidharan, Partner and Head of India at L Catterton, noted, “Drools has achieved significant growth through in-market agility and strategic execution, supported by our collaboration with the management team to create long-term value.”
\r\n\r\nIndia’s pet care industry is poised for significant expansion, with a projected annual growth rate of 20%, potentially reaching $1.2 billion by 2028. Despite relatively low household pet ownership (~10%), rising urbanization, increasing disposable incomes, and heightened awareness are set to fuel future growth.
\r\n\r\n\r\n\r\n
\r\n