Nestlé SA, the parent of Nestlé India, has picked up a minority stake in Bengaluru-based Drools Pet Food Private Limited, it announced on Monday.
“This is a financial investment by the company and Drools will remain strategically as well as operationally independent,” Nestlé said in a statement.
Other details of the transaction were not disclosed.
The development was first reported by DealStreetAsia earlier this month.
Drools claims to have earned the unicorn status following the investment from Nestlé SA. Unicorn is a moniker used by privately held companies valued at $1 billion and above.
“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,” said Fahim Sultan, founder of Drools Pet Food Pvt. Ltd.
Established in 2010, Drools offers a wide range of dry and wet pet food products for cats and dogs, besides supplements formulated by veterinary nutritionists. Its product range includes starter meals for puppies, chicken and egg-based dog food, chicken liver gravy for cats, a variety of treats such as biscuits and bite strips, and cat litter.
Drools claims that its products are distributed across more than 40,000 retail outlets and exported to 22 countries. The company currently operates six manufacturing facilities.
According to information available on its website, the company is actively looking to expand into several new markets, including Thailand, Vietnam, Indonesia, and the Philippines.
Earlier, L Catterton — a leading global consumer-focused private equity firm—had invested in Drools in June 2023 for a minority stake.
