Wiggles has announced the acquisition of rival Capt Zack in a cash and stock deal. The deal value has not been disclosed, but Wiggles has 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. Wiggles offers food and health and wellness products, and medicines for pet dogs and cats. Capt Zack was one of the first companies to launch pet products clinically tested on sensitive human skin and offer veterinary-licensed products.
The acquisition will help Wiggles enter newer categories, including accessories, toys, and beds. The Indian 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. In November last year, Supertails, a pet care brand backed by Bollywood actress Deepika Padukone, secured $10 Mn in its Series A funding round. The Indian pet care market is expected to grow at a CAGR of 19.2% during the 2022-2032 period and reach a size of INR 21,000 Cr by 2032. Pet adoption saw a sharp rise in India after the onset of the Covid-19 pandemic, as more people sought companionship during the lockdowns.