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MUMBAI: Swiss consumer goods giant Nestle has picked up a minority stake in the Indian pet food startup Drools. The Bengaluru-based company did not disclose the specifics of the deal but said it was valued at $1 billion post-investment, joining the ranks of unicorn startups. “This is a financial investment by the company, and Drools will remain strategically as well as operationally independent,” Nestle said in a statement on Monday, without elaborating further.
Nestle’s investment in Drools comes at a time when the broader pet food and pet care space in India is seeing a surge in growth, led by an expanding crop of millennial and Gen Z pet parents who do not mind paying more to provide quality nutrition and care for their pets. Nestle has a large pet care business (including pet food) operating under the master brand Purina, which made up about 20.7% of the company’s total sales in 2024. In India, companies like Godrej Consumer Care have also forayed into the pet care market of late.Backed by L Catterton, Drools competes with a mix of global and local pet food brands in India, including Mars PetCare and Heads Up For Tails. Drools last raised $60 million from L Catterton in June 2023. Drools is the fourth unicorn of the year after Netradyne, Porter, and JSW One Platforms.
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Luxury skincare expansion: L’Oreal acquires majority stake in Medik8; announces 1 billion Euro deal
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[ad_1] For the first time in eight years, Ayodhya has seen a sharp revision in its circle rates, with property prices rising between 30% and 200% across various parts of the district, officials told PTI.The prices are particularly steep within a 10-kilometre radius of the Ram Janmabhoomi Temple, an area witnessing a real estate boom fuelled by religious tourism and rapid infrastructure growth. Here, circle rates have jumped over 150%, pushing land values in the prime zone to Rs 26,600–27,900 per square metre, compared to Rs 6,650–6,975 earlier.Shanti Bhushan Chaubey, sub-registrar of Sadar (Faizabad) tehsil, said the hike followed a proposal submitted last September. “After addressing objections, the new circle rates were approved by District Magistrate Tikaram Funde and have now been enforced,” he said.According to Chaubey, the sharpest hikes were recorded in areas with the most land activity. “Localities […]
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