Nestle picks up minority stake in pet food brand Drools

Homegrown pet food company Drools Pet Food Pvt Ltd has secured a minority investment from Nestlé SA, the parent company of Nestlé India. Despite the new partnership, Drools will continue to operate independently, both strategically and operationally, the company said in a statement.

This follows an earlier minority investment from private equity firm L Catterton in June 2023. The company had raised $60 million in funding from the global consumer-focused investment firm.

“This reflects the love and trust of millions of pet parents, and our commitment to quality,” said Fahim Sultan, Founder of Drools. “With a strong focus on science-based nutrition, we’re innovating to better serve the evolving needs of Indian pet parents and positioning ourselves as leaders in the pet care industry.”

Founded in 2010, Drools has grown into a major player in India’s pet food market, with distribution across 40,000+ retail outlets and exports to 22 countries. The company, now a unicorn, is working to expand globally while retaining its Indian roots, said the statement.

“Since our investment, Drools has delivered strong growth through agile execution and focused operational improvements,” said Anjana Sasidharan, Partner and Head of India at L Catterton. “We’re excited to welcome Nestlé—an iconic name in global pet care and consumer brands—as a minority partner.”