Nestlé India’s management has just “approved the acquisition of Pet Foods Business (PFB) from Purina Petcare India through business transfer” effective from 1 October 2022 costing the company $15.7 million.
The prize is 3.4 times higher than the company’s last sales revenue of $4.5 million. Purina Petcare India’s network includes 50 distributors and 185 suppliers across 46 cities.
The Indian pet food market currently has a value of $508.9 million with a growing rate of 25%.
Suresh Narayanan, Chairman and Managing Director of Nestlé India, explained that Nestlé get access to the pet food business through the purchase of Purina PetCare.
“The pet food business has evolved very positively and has an exciting future with pet adoption on the rise post-pandemic. There are far greater synergies with evolution in channel strategies now than when the business was launched in 2018,” he stated.
The company recently told analysts that it wants to focus on
According to speakers, the company aims to concentrate on „premiumisation” of the pet food business after the acquisition