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In a strategic move to bolster its offline presence and tap into new user segments, Licious, the popular meat and seafood home-delivery service, has acquired Bengaluru-based offline retailer My Chicken and More. The acquisition, a cash-and-equity deal, was announced by Delightful Gourmet, the parent company of Licious, on Monday, although the financial details were not disclosed. This acquisition signifies a significant step in Licious's omnichannel strategy, allowing it to leverage the established network of My Chicken and More's 23 stores to increase its physical retail footprint to a total of 26 locations.
Licious has been actively pursuing offline expansion, with plans to open 35-40 stores across two or three cities by the end of FY25. The company currently serves 4 million households and aims to further enhance its reach through this acquisition. The move comes at a time when many online-first brands are expanding offline to acquire new customers, especially in the food and beverage sector, with venture funds increasingly backing brands with a retail presence. Temasek-backed Licious is strategically positioning itself within this trend, with ambitions to establish 500 offline stores in key markets over the next few years.
The acquisition of My Chicken and More is a significant milestone for Licious, providing it with a strong foundation for scaling its offline operations in South India. The acquisition also aligns with Licious's commitment to delivering high-quality and transparent meat products. My Chicken and More, founded in 2007, has a proven track record of efficient operations, customer-centricity, and strong brand loyalty, making it a valuable asset for Licious. The company processes between 1.6 million and 1.8 million orders annually, and its revenue in 2023 reached Rs 110 crore.
The partnership between Licious and My Chicken and More is seen as a synergistic move, allowing both companies to leverage their strengths and achieve shared goals. While Licious brings its online expertise and strong brand recognition, My Chicken and More contributes its offline infrastructure, customer base, and operational efficiency. The acquisition is expected to accelerate Licious's growth, expand its customer reach, and strengthen its position within the Indian meat and seafood market.
Source: Licious acquires Bengaluru-based My Chicken and More to boost offline presence