New Delhi, May 26 -- Swiss food giant Nestle SA, the parent company of Nestle India, has made a minority investment in the Indian pet food company Drools Pet Food Private Limited. The financial details of this investment, Nestle SA's first in India, were not disclosed. Nestle SA owns popular brands such as Kit Kat and Milo.

Drools will remain operationally independent after the investment, according to a statement released on Monday.

The investment follows a $60-million fundraise by the company in 2023 from LVMH-backed private-equity firm L Catterton. The firm's investment in Drools amounted to 10% of the company's valuation at the time, making it one of the largest investments in the Indian pet care industry.

Founded in 2010 by Fahim ...