Eatfit parent Curefoods has acquired five more D2C food brands, bringing its portfolio tally to 20 brands.
The five acquired brands include Juno’s Pizza, Cupcake Noggins, Iceberg, Nomad Pizzas, and White Kitchens. Further, the cloud kitchen company plans to add five more brands to its portfolio by mid-2022. Started in 2020, the company currently has 75 kitchens across 10 cities in India.
This year, Curefoods plans to expand its presence across 20 cities with 200 locations. According to a Curefoods’ spokesperson, these cities include Bengaluru, Hyderabad, Chennai, NCR, Mumbai, Pune, Cochin, Coimbatore, Mysore, Vishakhapatnam, Jaipur, Ahmedabad, Surat, Chandigarh, Kolkata, Lucknow, among others.
Post-acquisition, Mumbai-based Juno’s Pizza expects to see greater scale and expansion in Western India. Cupcake Noggins, a Bengaluru-based cupcake brand, will merge with CakeZone operations and aims for an expansion across Bengaluru within the next six months. Further, organic ice cream brand, Iceberg currently has a presence across Bengaluru and some parts of Andhra Pradesh. With its acquisition, Iceberg eyes a pan-India growth with expansion to over 15 cities.
Delhi-based Nomad Pizzas which serves gourmet pizzas also plans to expand to multiple outlets in Delhi and other parts of the country. On the other hand, White Kitchens, a multi-brand cloud kitchen company from Jaipur will prove instrumental to Curefoods’ Tier 2 expansion strategy.
Exponential growth
In October last year, Curefoods had announced acquisitions of seven food brands, including ChaatStreet, Parathabox, and CakeZone. Alongside these acquisitions, Curefoods had also signed exclusive online rights for Aligarh House, Yumlane, and Sharief Bhai. These partnerships have helped the brand grow its footprint across 10 cities and triggered a revenue growth of 50 per cent quarter-on-quarter.
Commenting on the acquisitions, Ankit Nagori, Founder at Curefoods said, “We are excited to kickstart 2022 with five new brands on board, making us a powerhouse of 20 odd leading food brands. India’s online food delivery marketing is estimated to touch about $8 billion this year, and we are eager to play a huge role in shaping this segment. To cater to multiple eating occasions, cuisines, flavour profiles and regional nuances, we are bringing on a plethora of such companies — each a strong contender in its space with great products to offer. Our goal is to equip them further with our tech and business expertise to enable them to continue serving up some great dishes for customers.”
Adding to this, Gokul Kandhi, Business Head, Curefoods, said, “We are seeing great results from the brands we have already acquired and predict a $100 million ARR for the coming year. With more brands on board and few more in the pipeline, we are well on our way to become a leading contributor to India’s fast-growing cloud kitchen ecosystem.”