Nestlé has announced plans to grow its pet food division. The multinational has acquired a minority stake in India’s Drools Pet Food.
However, the company has been quick to confirm that this is a financial investment by the company and Drools will remain strategically as well as operationally independent.
No other terms of the agreement will be disclosed.
Based in southern India, Drools is described as a premium pet food brand which focuses on healthy nutrition.
Pet food sector growing
Pet care is one of Nestlé’s fastest-growing businesses in Europe and worldwide. And such is the scale of growth, it’s now the second largest category in the business, accounting for just over 20% of sales.
“With just under one billion dogs and cats globally, the pet food industry is one of the fastest-growing sectors within the global food market,” says Dan Smith, head of the PetCare global strategic business unit, Nestlé Purina Pet Care.
This growth, Smith explains, is driven by increasing pet ownership, particularly in North America and Europe, rising disposable incomes, a heightened focus on pet health and wellness.
