Meat and seafood startup Licious has acquired Bengaluru-based offline retailer My Chicken and More in a cash and equity deal.
With this acquisition, Licious looks to strengthen its omnichannel presence in Bengaluru, one of Licious’ biggest markets. My Chicken and More has 22 stores across Bengaluru which will become a part of Licious and takes the company’s retail footprint to 26 points of sale.
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.
Vivek Gupta and Abhay Hanjura, co-founders of Licious, said, “Acquiring My Chicken and More is a pivotal step in our mission to expand our omni-channel presence and improve customer accessibility. The company has achieved impressive revenue per store, profitability, and supply chain efficiency, making it a well-run operation.”
“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.”
Founded in 2015 by Vivek Gupta and Abhay Hanjura, Licious is now doubling down on building an omni-channel network, with the intention to open 500 offline stores in key markets over the next few years.
It compete with FreshToHome, Capitan Fresh and quick-commerce players Zepto, Tata’s BigBasket, Swiggy Instamart for a larger pie in this category.
Licous currently is serving nearly 1.2 million consumers monthly through the Licious app and its loyalty program Infiniti has amassed 2 lakh weekly active subscribers, contributing to 58 per cent of monthly business. Operating from five processing centers, Licious serves 20 cities through 100 delivery centers.
The company has raised about $490 million from Vertex Ventures, Bertelsmann India Investments, 3one4 Capital and several others.