Delightful Gourmet, the parent company of Bengaluru-based Unicorn Licious, has acquired offline meat and seafood retailer My Chicken and More in a cash-and-equity-deal. This acquisition marks a significant step in Licious’ strategy to build a robust omnichannel presence, complementing its digital commerce operations, which currently reach over four million households. With the addition of My Chicken and More’s 23 stores, Licious will expand its physical retail footprint to 26 outlets in Bengaluru.
S Mahesha, founder of My Chicken and More, will join the Licious team to oversee the acquired business. While media reports have speculated the acquisition’s value at Rs 200 crore, the company has dismissed these figures and has refrained from disclosing financial details.
Founded in 2007, My Chicken and More grew from 10 to 23 stores between 2021 and 2023, establishing a solid reputation in Bengaluru’s meat and seafood retail market. In 2023, the company reported revenues of Rs 110 crore, processing between 1.6 million and 1.8 million orders annually, with certain stores seeing monthly footfalls of 10,000 to 12,000 customers.
On this acquisition, 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 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. 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.”
S. Mahesha, Founder of My Chicken and More, said, “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. Our mutual dedication to trust, transparency, and customer satisfaction, combined with our passion for the business, makes this partnership a natural fit.”
Licious has transformed India’s fragmented and unorganised meat industry by streamlining the supply chain and building a vertically integrated business, allowing it to control both costs and customer experiences. The company has also developed a strong online distribution model, catering to nearly 1.2 million consumers monthly via the Licious app. Its revenue has seen significant growth, rising from Rs 69.43 crore in FY19 to Rs 746.38 crore in FY23, though it continues to work towards turning EBITDA positive.
Licious now plans to open 500 offline stores in key markets over the next few years. Co-Founders Hanjura and Gupta had earlier told Business Today that the economics of offline expansion is challenging, as fixed costs like power and salaries need to be covered on a monthly basis to ensure the stores’ viability.
Currently, Licious operates from five state-of-the-art processing centers and serves 20 cities through 100 delivery centers, as it continues its push to become a dominant player in both online and offline meat retailing.