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Drools will leverage L Catterton’s category expertise and brand building capabilities to further strengthen its position in the country’s fast-growing pet food market
MUMBAI, June 20, 2023 /PRNewswire/ — L Catterton, a leading global consumer-focused investment firm, today announced that it has invested around $60 million in Drools Pet Food Private Limited (“Drools”), the top local pet food company in India. This builds on the firm’s longstanding track record of growing pet food businesses across the world and marks its first foray into the sector in India.
Drools will leverage L Catterton’s expertise in the sector to further strengthen its position as the largest domestic player in India’s burgeoning pet food market. The market is expected to grow by approximately 20% annually over the next five years to reach over $1.2 billion in 2028 on the back of increasing pet adoption as the country becomes more urbanized and household sizes become smaller. Macro trends such as rising income levels and the increasing humanization of pets are also leading pet owners to spend more on their pets, especially on buying packaged food instead of preparing home-cooked meals.
Capitalizing on these secular tailwinds, Drools has almost quadrupled its revenue over the past three years by building an omni-channel pan-India pet food business. Its portfolio of dog and cat food brands such as Drools®, its flagship brand, as well as Pure Pet, Meat Up, Canine Creek, and Kitty Yum provides a wide range of benefits which address the growing demands of the fast-evolving Indian pet parent.
“What truly differentiates Drools is its ability to manufacture high-quality products across the price ladder and make them available to pet parents via every relevant channel, be it online on Amazon or Flipkart, or offline in over 34,000 points of sale spanning specialty vet shops, veterinary clinics, and general trade stores,” commented Anjana Sasidharan, a partner in L Catterton Asia. “Its focus on…
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