Growel Formulations Pvt Ltd, an India-based aqua healthcare and nutrition company, announced on Friday that it will make a strategic in Provet Pharma Private Limited.
However, the companies did not disclose the sum.
Provet, a poultry healthcare and nutrition company, has a strong presence in preventive and therapeutic solutions for poultry and aqua segments, Growel said in an official announcement.
This company said the strategic investment will mark its entry into the high-growth segment, expanding its footprint across animal species nutrition and healthcare. The move is expected to significantly broaden Growel Formulations’ portfolio beyond aquaculture.
Deal aims to build diversified, science-led platform
Deloitte India Corporate Finance acted as the buy-side advisor to Growel Formulations, while Veda Corporate Advisors advised Provet Pharma on the deal, the company said in a statement.
According to Growel, the transaction aligns with the company’s long-term vision of building a diversified, science-led platform focused on animal nutrition, health and wellness.
“The poultry sector remains one of the fastest-growing protein segments, underpinned by rising protein needs and awareness, improved feed technology, and increasing focus on animal health & productivity,” Growel said in a statement received by Mint.
All about Provet Pharma
Provet was founded in 2009 by two veterinary professionals, Dr V Muthu Selvan and Dr S Senthil, along with two investors, who exited the company as part of this latest transaction.
The poultry and nutrition company focuses on innovative and unique products and has a steady pan-India sales and distribution team in place. It has recently forayed into exports, the company said.
With this partnership with Growel, the combined platform is expected to strengthen its value proposition and expand its comprehensive portfolio of solutions to farmers and integrators across both poultry and aqua segments.
Growel’s pet treat launch
In 2024, Growel Group, the parent organisation of Growel Formulations. launched two pet treats as part of its foray into the fast-growing pet food segment, according to media reports.
The company had said at the time that it plans to invest around ₹80–100 crore over the next five years for the venture.