M&A

M&A

Nestle India acquires group pet foods co Purina's local unit for Rs.125-Cr

BSE Disclosure  

Publicly listed Nestle India Ltd has acquired the pet foods business of Delhi-based Purina PetCare India Pvt Ltd for INR 123.5 crore which works out to around 3.4 times the turnover of Purina Petcare India for FY22 (INR 36 crore). Both Nestle India and Purina PerCare India are subsidiaries of Switzerland-based Nestle S.A. The transaction is done on the basis of the Independent Valuation Report of PwC Business Consulting Services LLP. Purina has been selling dry dog and cat foods under brands Purina Supercoat, Purina Pro Plan and Purina Friskies. These products are imported from Nestle Thailand and Nestle Australia. Purina does not have any manufacturing facility.