Emami acquires 30% stake in pet-care startup Cannis Lupus Services

FMCG firm has acquired a 30% stake in a pet-care start-up, Cannis Lupus Services India, in an all-cash deal for an undisclosed amount.

In a release, said the company will roll out a range of natural, ayurvedic and chemical free products for pets and will scale up the business by virtue of the expertise of Cannis Lupus. It said Cannis Lupus under the brand 'Fur Ball Story' would be focusing with the ayurvedic range of solutions for common and recurrent ailments in pets, especially dogs.

Harsha V Agarwal, vice chairman and managing director, Emami Ltd said, with rising disposable income, more people are keeping pets.

"They are also looking for best treatments for common ailments faced by their pet children, especially in the form of ayurvedic and herbal remedies. The brand, 'Fur Ball Story' offers unique Ayurvedic products for the well-being of the pets and meets the emerging consumer needs and aspirations,” he said.

Cannis Lupus had clocked Rs 22 lakh revenue in 2021-22, as per a filing made by Emami to the stock exchanges. Emami in the filing said the investment is in line with its strategy.