L Catteron – the $60 million investor in Drools Pet Pvt. Ltd.
Drools Pet Food Pvt. Ltd. Is a non-government private company which is limited by shares. It is categorized as a non-government company in Chhattisgarh. The 2 main promoters of the company are Fahim Sultan Ali and Sultan Ali who founded the company in the year 2010. It makes pet food with real ingredients as pet health is the number one priority for them. Their recipes are perfected to give pets wholesome nutrition and a mouth-watering taste. The company has achieved remarkable success in the pet food industry as a market leader in India. It has emerged as a successful MNC not only in India but has expanded its brand and exports its products to more than 22 countries all over the world.
The company is looking for further growth by planning to enter the Russia and U.S markets. The brand has an extensive network of 34,000 retail outlets across the nation with at least 1800 employees. The company runs on technology platforms as well like SAP, Salesforce etc.
Drools Pvt. Ltd. Is said to have one of the largest manufacturing capacities in the sector with production and warehouse facilities across an area of 8 lakh sq.ft. The company is also a distinctive cat food brand. This reputed pet food brand feeds the maximum number of pets in India while consistently delivering a range of assortments for pet parents in the country.
Recently, Drools Pet Food company announced its successful funding from L Catterton (LVMH). It’s a private equity firm that has successfully invested $60 million in Drools Pvt. Ltd. Which is 10% of the company’s valuation. This makes it one of the largest investments in pet care industry of India. A major milestone was achieved through L Catterton’s investment for Drools as an innovative approach to the pet food industry with a strategic expansion. The fund is planned to be utilized in enhancing manufacturing capabilities to meet the increasing demand. It will also boost the company’s plan to attract talent and foster growth.
The company is determined to sustainable growth and is dedicated on building a strong foundation for its future by delivering high quality products and practicing ethical business standards. The Founder, Fahim Sultan stated that this alliance will unlock a new phase of growth for the pet food industry in India. The expertise of L Catterton will create new values for the pet food industry. The company is set to recruit talent and expand their commercial network to strengthen the brand and support growth.
The CEO of Drools Pet Food Pvt. Ltd., Dr. Shashank Sinha, believes this partnership will help in the long-term plans of the company. As this secured funding has been received, it is set to play an important role for the company’s growth and expansion, said the CEO. The company will be able to efficiently invest in strategic marketing initiatives and increase production capabilities.
One of the partners in L Catterton Asia, Anjana Sasidharan says that Drools stands unique because of its ability to manufacture high quality products and meeting the demand of pet parents via different channels like Amazon, Flipkart etc. Their products are made available in more than 34,000 specialty vet shops, veterinary clinics and other general stores. Because the company focuses on the product quality, it has gained high reputation. It focuses on providing high protein content with value-for-money pricing which gained a very loyal base of customers. Sasidharan believes this is the right time to enter the pet food market as it is on an inflection point.
L Catterton’s investments have significantly built pet food brands in the past which include investments in Butternut Box, Canidae, Inspired Pet Nutrition, JustFoodForDogs, Lily’s Kitchen, Partner Pet, Petlove, Pure & Natural and many more. Brands like Sugar cosmetics and FabIndia are the investments made by Catterton in India.
This funding is supposed to boost Drools production capacity, streamline operations and strengthen its distribution network. Drools Food Pvt. Ltd. Is set to focus on expanding its retail stores along with e-commerce channels with an aim to reach a wider customer base. Drools is set to make its way to the largest seller in the pet food segment on Amazon with a 100% e-commerce presence.
