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Swiss food giant Nestlé SA, the parent entity of Nestlé India, has acquired a minority stake in homegrown D2C pet care startup Drools. However, the startup did not disclose the financial terms of the deal.
Drools also said that it recently became a unicorn, without disclosing further details.
Drools said it will continue to operate independently, maintaining its strategic and operational autonomy.
Founded by Fahim Sultan in 2010, Drools offer 650+ SKUs, including high-protein, prescription, and value-for-money diets, serving the full spectrum of pet nutrition needs. It claims to have about 3,400 employees currently.
The Bengaluru-based startup sells its products via its own website, major ecommerce marketplaces, and offline stores. It also exports its products to more than 40K retail outlets across 22 countries, including Australia, Israel and the UAE.
“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,” Sultan said.
The development comes nearly two years after US-based private equity (PE) firm L Catterton invested $60 Mn in the Indian pet food brand at a valuation of $600 Mn, obtaining a 10% stake in Drools.
(The story will be updated soon.)
The post Nestlé Picks Up Minority Stake In Pet Care Unicorn Drools appeared first on Inc42 Media.
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