SUMMARY
Without disclosing the deal value, Wiggles said it has acquired a 100% stake in Capt Zack in a cash and stock deal
Capt Zack's product portfolio includes accessories, toys, and beds, which would help Wiggles enter newer categories
Wiggles competes with the likes of Heads Up For Tails, Wagr, and Supertails in the fast-growing pet brands market
Pune-based D2C pet care brand Wiggles on Thursday (March 30) announced the acquisition of rival Capt Zack in a cash and stock deal.
Without disclosing the deal value, Wiggles said it acquired a 100% stake in Capt Zack.
The acquisition will help Wiggles enter newer categories and markets and bolster the offerings of both the brands.
“As a brand, the values that Capt Zack operates with are synonymous with Wiggles. We firmly believe this acquisition will provide an impetus to our efforts and accelerate the momentum for new product development and launches while strengthening distribution,” said Anushka Iyer, founder and CEO of Wiggles.
Founded in 2018 by Anushka Iyer, Rajh Iyer, and Venkat Mahadevan, Wiggles offers food and health and wellness products, and medicines for pet dogs and cats. It claims to be rooted in veterinary science and trusted by over 700K pet parents.
Wiggles raised $5.5 Mn in October 2021 in a funding round led by Anthill Ventures. A report in September said that the startup was looking to raise around $15 Mn-$20 Mn over the coming months. So far, Wiggles has raised a funding of around $6.5 Mn.
Meanwhile, Capt Zack was founded in 2016 by Mohit Lalvani. It was one of the first companies to launch pet products clinically tested on sensitive human skin and offer veterinary-licensed products.
Capt Zack’s product portfolio also includes accessories, toys, and beds, which would help Wiggles enter newer categories. Given Wiggles has a strong presence in the grooming category, the Pune-based brand said it would continue to invest in R&D to develop and grow the segment further.
“Given the substantial growth of pet ownership in the country, we are certain that the future is exciting and filled with innovation,” Lalvani said on the acquisition.
Wiggles competes with the likes of Heads Up For Tails, Wagr, and Supertails in the fast-growing pet brands market.
In November last year, Deepika Padukone-backed Supertails secured $10 Mn in its Series A funding round
As per a report, India’s pet care market is expected to reach a size of INR 21,000 Cr by 2032, growing at a CAGR of 19.2% during the 2022-2032 period. As per various reports, pet adoption saw a sharp rise in the country after the onset of the Covid-19 pandemic.
