New Delhi: Leading FMCG company Emami on Thursday announced to acquire a 30 per cent stake in a pet-care startup Cannis Lupus Services India for an undisclosed amount.
Cannis Lupus Services India offers Ayurvedic remedies for pets under the brand "Fur Ball Story". It uses a wide range of plants and herbs to formulate its medicines, said a joint statement.
"The extensive knowledge and experience of pet care and pet training acquired by Cannis Lupus over the years would be helpful in developing and scaling up the business soon. Cannis Lupus under the brand 'Fur Ball Story' would thus be focusing on the fast-growing pet care segment with its Ayurvedic range," the statement added.
Emami Vice Chairman and Managing Director Harsha V Agarwal said the pet care segment in India is witnessing rapid growth. Now, with rising disposable income, more people are getting house pets, especially dogs.
"Further, with increasing awareness of the psychological & physical benefits of having a pet at home, people have started gradually identifying themselves as 'pet parents' rather than being just 'pet owners'. They are also looking for best treatments for common ailments faced by their pet children, especially in the form of ayurvedic and herbal remedies," he said.
Cannis Lupus Services founder Animesh Katiyar said: "We are excited to have Emami Limited on board with us. I have closely been associated with pets for long and am extremely passionate about them".
Emami operates in personal care and healthcare companies with a portfolio of different brands, including Navratna, BoroPlus, Fair & Handsome, Zandu Balm, Mentho Plus and Kesh King.
Several companies have invested in pet care. After the pandemic, pet adoption has increased in the metros and other cities.
Earlier in March this year, Hester Biosciences had announced to enter the segment. Last year, Cosmo Films forayed into the pet care business with the brand ZIGLY.