By: IPP Bureau
Last updated : September 22, 2026 4:10 pm
The companies will focus on geographic expansion and strengthening the brand's omnichannel footprint.
Fredun Pharmaceuticals Limited has acquired a 26% stake in Goodman Vetcare Private Limited, marking a strategic move to strengthen its presence in India's animal health, veterinary retail, and pet-care market.
The partnership combines Goodman’s retail network and expertise with Fredun Pharmaceuticals Ltd.’s manufacturing, tech, and healthcare capabilities to drive future growth. Together, the companies will focus on geographic expansion and strengthening the brand's omnichannel footprint.
Since 1989, Goodman has supplied veterinary medicines, pet food, and accessories, building strong ties with pet parents and vets.The business operates three stores across Mumbai and Navi Mumbai, including a 24/7 flagship veterinary pharmacy in Parel. Built entirely without institutional capital, Goodman is highly profitable and has grown its revenue by 30% annually, rising from Rs. 14.1 crore in FY24 to Rs. 23.6 crore in FY26.
Building on this momentum, the brand is targeting ~Rs. 40 crore in revenue by FY27 and ~Rs. 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 ~Rs. 100 crore in revenue by FY31.
Commenting on the strategic association, Fredun Medhora, MD & CFO, Fredun Pharmaceuticals Ltd., 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 Vetcare's market strength with FPL's 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."
Further adding to this, Vipul Patil, CEO, Goodman Vetcare Pvt. Ltd., stated: "My father built Goodman one customer at a time, on a simple belief: the value of a life matters more than the value of an order. Thirty-seven years later, that belief still guides every decision we make. We weren't looking for someone to make us bigger overnight. We wanted a partner who wants to build something that outlasts all of us, and in Fredun, we found one. FPL brings the resources, experience and industry relationships to help us prepare for the scale of business we want to build. Beyond capital, FPL's experience in building teams and managing operations will be particularly valuable as we expand into new cities. Its pharmaceutical background also brings a strong perspective on supply, quality and operating discipline, which complements our experience at the pharmacy counter. The association gives us the ability to plan further ahead across teams, technology, inventory and infrastructure in a more structured way. With plans to open at least two more stores in Mumbai and our first stores outside Maharashtra by the end of 2027, having the right capabilities and infrastructure in place will be critical to scaling Goodman Chemist sustainably. With this association the pace changes now; the way we work doesn't."
Speaking on the association, Vishal Patil, Director, Goodman Vetcare, stated: "Animals can't tell us what they need, but their families carry that worry for them, often going from one shop to the next and hearing 'not available' again and again. Goodman was built to be the last stop in that search. With Fredun, we want to be the first."