According to reports from Business Standard, Fredun Pharmaceuticals has acquired a 26% stake in Goodman Vetcare, marking a strategic step towards strengthening its presence in India's animal health, veterinary retail and pet-care market. The acquisition has positively impacted market sentiment, with Fredun Pharmaceuticals rising 2.84% to ₹1,385.80 following the announcement. The acquisition values the pet retailer at ₹300 crore, bringing together Goodman's deep expertise and established retail network with Fredun Pharmaceuticals' capabilities across healthcare, manufacturing, pet-care brands, technology and business development, creating a strong foundation for the next phase of growth.
As reported by Business Standard, Goodman has built strong relationships with pet parents, veterinary professionals and suppliers since 1989, supported by a specialised portfolio spanning veterinary medicines, pet food, accessories and allied pet-care products. The business currently operates three stores across Mumbai and Navi Mumbai, including its flagship store in Parel, a 24x7 veterinary profitable veterinary pharmacy and pet-care operation. Goodman has grown its revenue by 30% annually, from ₹14.1 crore in FY24 to ₹23.6 crore in FY26, built without institutional capital. The retail footprint is transitioning from a 3-store network in Mumbai to an 11-store chain across three cities, with plans to open at least eight new stores as part of the expansion strategy. The expansion will be supported by a focused approach to execution, with new stores targeted to reach breakeven within three to four months, based on the performance of the brands last two openings.
According to Business Standard, building on this momentum, the brand is targeting ₹40 crore in revenue by FY27 and ₹56 crore by FY28. As part of its next phase of expansion, the brand plans to build PAN India presence by opening at least eight new stores across three cities, with an ambition to reach ₹100 crore in revenue by FY31. Goodman Vetcare also plans to commission a warehouse in the new city during the first half of the year, enabling stronger stock availability as the network expands. The entities plan to expand by opening eight new retail stores across the targeted cities, with cross-selling of Fredun's proprietary pet formulations through Goodman's retail channel. This retail presence is crucial for brands seeking to build direct-to-consumer relationships in the fast-growing pet healthcare sector.
As reported by Business Standard, together, the businesses will focus on expanding the brand's footprint into new geographies while gradually strengthening its omnichannel capabilities. Fredun Medhora, MD & CFO, Fredun Pharmaceuticals, stated: "Goodman Vetcare has built a strong and trusted position in veterinary and pet-care retail over several decades, with strong customer relationships, category expertise and deep understanding of the veterinary and pet-care ecosystem. We see a significant opportunity to build on this foundation by bringing together Goodman Vetcares market strength with FPLs brands, manufacturing capabilities and broader ecosystem. Our objective is to support Goodman's next phase of growth and work towards building a stronger, more integrated pet-health platform in India." The transaction highlights high retail multiples in the pet care industry, driven by rising pet adoption and premiumization trends, with consolidation accelerating as pharmaceutical companies look to capture market share in consumer-facing retail and wellness segments.
According to Business Standard, Fredun Pharmaceuticals reported strong financial performance for Q1 FY27, with consolidated net profit increasing by 94.1% to ₹13.13 crore from ₹6.76 crore in Q1 FY26. Revenue from operations rose by 90.7% year-on-year to ₹227.75 crore during the period under review. The company completed the acquisition of the pet-wellness brand Furlicks from USV and its subsidiary Wellbeing Nutrition in September 2026, with plans to expand Furlicks' product portfolio from 6 to 22 SKUs within the next 6-9 months. The commissioning of a new distribution warehouse is planned for the first half of the year, establishing a comprehensive everyday pet-wellness and preventive health platform.
