Growel Formulations forays into poultry sector with strategic investment in Provet Pharma — details here

India-based aquatic health and nutrition company Growel Formulas Pvt Ltd on Friday announced a strategic investment in Provet Pharma Private Limited.

However, the companies did not disclose the amount.

Poultry health and nutrition company Provet has a strong presence in preventive and therapeutic solutions for the poultry and aquaculture segments, Growel said in an official announcement.

The strategic investment will mark its entry into the high-growth poultry segment and expand its footprint in animal species nutrition and healthcare, the company said. This move is expected to significantly expand Growel Formulas’ portfolio beyond aquaculture.

The agreement aims to create a diversified, science-focused platform

In the statement made by the company, it was stated that Deloitte India Corporate Finance served as buy-side advisor to Growel Formulas, while Veda Corporate Advisors advised Provet Pharma on the deal.

According to Growel, this transaction aligns with the company’s long-term vision to create a diversified, science-driven platform focused on animal nutrition, health and wellness.

“The poultry industry continues to be one of the fastest-growing protein segments, driven by increasing protein needs and awareness, advanced feed technology and an increased focus on animal health and productivity,” Growel said in a statement obtained by Mint.

Everything about Provet Pharma

Provet was founded in 2009 by two veterinary experts, Dr V Muthu Selvan and Dr S Senthil, and two investors who exited the company as part of this latest transaction.

The poultry health and nutrition company focuses on innovative and unique products and has a stable sales and distribution team across India. The company said that it has recently turned to exports.

With this partnership with Growel, the combined platform is expected to strengthen its value proposition and expand its comprehensive solutions portfolio for farmers and integrators in both poultry and aquaculture segments.

Growel’s pet treat launch

In 2024, the Growel Group, the parent company of Growel Formulas, was founded. It has launched two pet treats as part of its entry into the fast-growing pet food segment, according to media reports.

The company announced at that time that it planned to invest. ₹80-100 crore over the next five years for the initiative.