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/PRNewswire/ -- L Catterton, a leading global consumer-focused investment firm, today announced that it has invested around $60 million in Drools Pet Food...
Broiler Group-owned pet food company Drools Pet Food Pvt Ltd on Tuesday said that it has raised around $60 million (nearly Rs 490 crore) from global consumer-focused investment ......
Global consumer-focused investment firm L Catterton has invested $60m in Indian pet food company Drools. It is the firm's first entry into the Indian pet food market, which could reach $1.2bn by 2028, with a projected annual growth rate of 20%. Drools was founded in 2010 and its portfolio includes brands such as Pure Pet, Meat Up, Canine Creek, and Kitty Yum.
The funding will be used to enhance the companys existing manufacturing capabilities, meet the growing demand for high-quality pet food products, accelerate its retail plan, bolster the marketing budget, and attract top talent, per the statement.
Pet Food Start-up Drools: Infusion amounts to 10% of firm's valuation; Drools currently has 38% market share in Indian pet food market and exports to 22 countries