Licious buys 'My Chicken and More' to gain physical foothold in Bengaluru

'My Chicken and More' generates annual revenues of close to ~110 crore, processing 1.8 million orders a year and its acquisition adds 23 stores to Licious' offline network

Direct-to-consumer (D2C) meat and seafood brand Licious has acquired Bengaluru-based offline retailer ‘My Chicken and More’, which has 23 stores spread across the city.

“The acquisition will enable us to rapidly scale our offline presence in South India,” said co-founder Vivek Gupta.

This cash and equity deal will give online retailer Licious a solid physical foothold in Bengaluru, taking the total number of stores to 26. Licious, which is owned by Delightful Gourmet, had three stores in the city.

This takeover complements Licious’ digital commerce that reaches 4 million households currently. The company, however, didn’t reveal the value of the transaction, but it is reportedly around ~200 crore.

 

Gupta and Abhay Hanjura, co-founders of Licious, said that ‘My Chicken and More’ has achieved impressive revenue per store, profitability, and supply chain efficiency, making it a well-run operation.

Founded in 2007, ‘My Chicken and More’ has established itself as a strong regional player.

Between 2021 and 2023, the brand expanded from 10 to 23 outlets, generating revenues of ~110 crore in 2023. It processes between 1.6 million to 1.8 million orders annually. This includes some stores attracting an average monthly footfall of 10,000 to 12,000 customers.

“Partnering with Licious is not just about growth for us, it’s about aligning with a shared vision of providing consumers with high-quality and hygienic meat,” said S Mahesha, founder of ‘My Chicken and More’.

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 per cent of monthly business. Operating from five processing centres, Licious serves 20 cities through 100 delivery centres.

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.