Emami acquires a 30% strategic stake in Cannis Lupus; stock marginally up

22 Jul 2022 , 09:49 AM

Emami Limited announced that it has acquired a 30% stake in the pet-care start-up Cannis Lupus Services India Private Limited.

The company believes that as consumers become more aware of the overall health benefits that natural products provide, they are more likely to use such natural and ayurvedic products. Chemical-free products that are beneficial to humans are also beneficial to pets. This preference for “wellness products” naturally extends to house pets, who are an important part of the family.

Cannis Lupus’ extensive knowledge and experience in pet care and pet training gained over the years will aid in developing and scaling up the business soon. Cannis Lupus would thus focus on the fast-growing pet care segment with its Ayurvedic range of solutions for common and recurring ailments in pets, particularly dogs, under the brand “Fur Ball Story.”

“We are delighted to partner with Cannis Lupus. The Petcare industry in India is rapidly expanding. People are getting more house pets, especially dogs, as their disposable income increases. Furthermore, as people become more aware of the psychological and physical benefits of having a pet at home, they have begun to identify as ‘pet parents’ rather than ‘pet owners’, commented Harsha V Agarwal, Vice Chairman & Managing Director, Emami Ltd.

At around 9.54 AM, Emami Ltd was trading at Rs472.50 up by Rs1.45 or 0.31% from its previous closing of Rs471.05 on the BSE. The scrip opened at Rs475.50 and has touched intraday high and low of Rs478.80 and Rs472.45 respectively.