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In a rare milestone for India’s consumer goods landscape, Drools Pet Food Private Limited has claimed the title of the country’s first pet food unicorn after receiving a minority investment from Nestlé S.A, the Swiss parent of Nestlé India. The investment size and valuation remain undisclosed.
While the terms of the deal are not public, the company confirmed that it will continue to operate independently, both strategically and operationally. The development follows an earlier infusion from Louis Vuitton-backed private equity firm L Catterton, which invested $60 million in Drools for a minority stake in June 2023. At the time, the startup said it aimed to leverage L Catterton’s expertise to strengthen its position as India’s largest domestic player in the pet food market.
Market presence
Founded in 2010 by Fahim Sultan, Drools has grown from a fledgling manufacturer to a prominent player in India’s rapidly evolving pet care industry. The company’s portfolio now spans over 650 SKUs and is distributed across more than 40,000 retail outlets. It also exports to 22 countries and is a leading seller in the cat food category on online platforms like Amazon.
“This is a testament to the love and trust of millions of pet parents and to our unwavering commitment to quality,” said Fahim Sultan. “Backed by a strong focus on science-based nutrition, Drools continues to drive innovation and build meaningful engagement with the evolving demographic of Indian pet parents, positioning itself at the forefront of the country’s pet care industry.”
The company’s operational footprint includes six manufacturing units and a 1.6 million sq. ft. warehousing network, supported by a team of 3,400 employees — nearly half of whom are dedicated to sales.
L Catterton Partner and Head of India Anjana Sasidharan, added, “Drools has achieved significant growth since we invested in the company two years ago, through the high-quality in-market agility and execution, and a range of operational initiatives we have been working on with its management team to create value.”
India is one of the fastest-growing pet care markets globally. The sector is projected to expand at an annual rate of 20% over the next five years, reaching a market size of over $1.2 billion by 2028, according to company estimates. Despite low penetration — only about 10% of Indian households own a pet — the growth trajectory is expected to accelerate as awareness, disposable incomes, and urban pet adoption continue to rise.
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