Licious, a direct-to-consumer (D2C) meat and seafood brand has acquired Bengaluru-based offline retailer My Chicken and More in a cash and equity deal.
With My Chicken and More’s 23 outlets, Licious will expand its physical retail footprint to 26 points of sale in Bengaluru.
My Chicken and More has a revenue of ₹110 crore, and processes between 1.6 million to 1.8 million orders annually, with some stores attracting an average monthly footfall of 10,000 to 12,000 customers. Between 2021 and 2023, the brand expanded from 10 to 23 outlets.
“Acquiring My Chicken and More is a pivotal step in our mission to expand our omnichannel presence and improve customer accessibility. The company has achieved impressive revenue per store, profitability, and supply chain efficiency, making it a well-run operation. We see great value in their operations, customer-centric approach, and strong brand loyalty, which align perfectly with Licious’s vision,” said Vivek Gupta and Abhay Hanjura, Co-founders of Licious, in a joint statement
“The acquisition will enable us to rapidly scale our offline presence in South India, while continuing to deliver the quality and transparency that define the Licious experience,” they added.
“Licious has been a trailblazer in the meat and seafood industry, tackling complex challenges like supply chain, quality control, and customer education at an unmatched scale. Partnering with Licious is not just about growth for us, it’s about aligning with a shared vision of providing consumers with high-quality, hygienic meat,” said S Mahesha, Founder of My Chicken and More.
Founded in 2015 by Vivek Gupta and Abhay Hanjura, Licious has built a robust online distribution model, serving nearly 1.2 million consumers monthly through the Licious app.
Its flagship loyalty program Infiniti has amassed 2 lakh weekly active subscribers, contributing to 58% of monthly business. Operating from five processing centres, Licious serves 20 cities through 100 delivery centres.
Licious is now doubling down on building an omnichannel network, with the intention to open 500 offline stores in key markets over the next few years.
It competes with FreshToHome, Capitan Fresh and quick-commerce players Zepto, Tata’s BigBasket, and Swiggy Instamart for a larger pie in this category.
The company has raised about $490 million from Vertex Ventures, Bertelsmann India Investments, 3one4 Capital and several others.
