Emami acquires strategic stake in Petcare Start-up Cannis Lupus Services India Pvt Ltd

Emami Limited, one of the leading personal care and healthcare companies in India announced today of having acquired 30% stake in a pet-care start-up "Cannis Lupus Services India Private Limited".

With increasing awareness of the overall health benefits that natural products offer, consumers today are more inclined towards use of such natural and ayurvedic products. Chemical free products which are good for humans are also good for pets. This preference for 'wellness products' gets naturally extended to the house pets who are an integral part of a family. 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. Cann is Lupus under the brand "Fur Ball Story" would thus be focusing on the fast-growing pet care segment with its Ayurvedic range of solutions for common and recurrent ailments in pets, especially dogs.

Mr Harsha V Agarwal, Vice Chairman & Managing Director, Emami ltd said, "We are delighted to announce our partnership with Cannis Lupus. Petcare segment in India is witnessing rapid growth. With rising disposable income, more number of 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. The brand, "Fur Ball Story" offers unique Ayurvedic products for well-being of the pets and meets the emerging consumer needs and aspirations."

Commenting on the development, Mr Animesh Katiyar, Founder, Cannis Lupus Services India Private Ltd said, "We are excited to have Emami Limited on board with us. I have closely been associated with pets since long and am extremely passionate'about them. The mindset of people in India is changing fast from being just pet owners to pet parents and as a result, they are today more concerned of their pet-children's well-being. Animals in their natural habitat heal themselves with whatever is available in nature. This is a natural process. However, the products available in the market currentlv-arefull of toxic chemicals, which harm the pets in the long run. Fur Ball Story is our attempt to address this problem by providing Ayurvedic solutions for common ailments to house pets, especially dogs."

Shares of Emami Limited was last trading in BSE at Rs. 471.05 as compared to the previous close of Rs. 473.20. The total number of shares traded during the day was 2147 in over 310 trades.

The stock hit an intraday high of Rs. 475.95 and intraday low of 467.25. The net turnover during the day was Rs. 1014255.00.

Source : Equity Bulls

Keywords

Emami INE548C01032 StakeAcquisition PetCare StartUp CannisLupusServicesIndia