Drools pet food secures $60M funding from L Catterton

Drools pet food secures $60M funding from L Catterton

Drools Pet Food Raises $60M Secures from L Catterton

New Delhi, India – Drools Pet Food Pvt. Ltd., a leading pet food brand, has secured a substantial investment of $60 million from L Catterton, a private equity firm backed by LVMH.

This investment marks a significant milestone for Drools, as it represents 10% of the company’s valuation and stands as one of the largest investments in India’s thriving pet care industry. The funding will be utilized to bolster the brand’s manufacturing capabilities, expand its retail presence, and implement strategic marketing initiatives, according to a statement released by Drools on Tuesday.

Established in 2010 by Fahim Sultan, Drools has gained international recognition, exporting its products to over 22 countries, including Australia, Israel, and the UAE. The company plans to make its foray into the Russian market this year and subsequently enter the United States. Currently, Drools employs a sales force of 1,800 individuals and its products are available in 34,000 retail outlets throughout India. Operating three production facilities in the country, Drools offers a wide range of pet food options, encompassing over 650 stock-keeping units, such as Drools, Pure Pet, Meat Up, Canine Creek, and Kitty Yum.

Fahim Sultan, Founder of Drools Pet Food Pvt. Ltd., expressed his enthusiasm regarding the partnership, stating, “This collaboration signifies a new era of growth as India’s pet market continues to evolve in major cities as well as Tier 1 and Tier 2 cities. This funding milestone empowers us to solidify our position in the market and pursue our mission of making a positive impact in the pet food industry. L Catterton’s reputation for creating value in the pet food sector is widely recognized throughout the industry.”

L Catterton boasts considerable expertise in developing renowned brands within the pet food market. Notable investments in this sector include Butternut Box, Canidae, Inspired Pet Nutrition, Instinct, JustFoodForDogs, and Lily’s Kitchen. Additionally, the firm has a diverse portfolio in India, with investments in consumer-focused brands such as FabIndia and Sugar Cosmetics.

Anjana Sasidharan, a partner at L Catterton Asia, acknowledged India’s pet care market as a prime opportunity for growth. Over the years, significant investments from major companies have been witnessed in this sector, coinciding with the rise in pet ownership. Nestle India, for instance, acquired Purina Petcare India’s pet food business in 2022 for ₹125.3 crore, aiming to enhance category growth. Furthermore, Mars Inc., known for pet food brands like Pedigree and Royal Canin, has capitalized on the market’s potential. The growing interest from investors signifies the increasing allure of the pet care category.

Sasidharan emphasized Drools’ differentiating factor, stating, “What sets Drools apart is its ability to produce high-quality products across various price points, ensuring availability to pet parents through diverse channels. Whether it’s online platforms like Amazon and Flipkart or brick-and-mortar establishments such as specialty vet shops, veterinary clinics, and general trade stores, Drools caters to pet owners’ needs.”

With the infusion of funds, Drools aims to expand its production capacity, streamline operations, and fortify its distribution network. This strategic move positions the brand to meet the escalating demand for premium pet food products in both domestic and international markets.

About Drools:

Drools is a system for managing business rules that utilizes a rules engine based on forward and backward chaining inference. It is more accurately referred to as a production rule system and employs an enhanced version of the Rete algorithm.

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