Bengaluru-based offline shop My Chicken and More was purchased by D2C food tech unicorn Licious, which has prominent investors, including Temasek, 3One4 Capital, and IIFL, in return for money and shares.

While the company did not disclose the financial terms of the agreement, it did say that the acquisition would allow it to expand its physical footprint and add 23 new locations to its network.

As part of the agreement, S Mahesha, the founder of My Chicken and More, will work with Licious for a minimum of four years.

Vivek Gupta and Abhay Hanjura, co-founders of Licious, said, “My Chicken and More 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.”

Founded in 2007 by S Mahesha, My Chicken and More operates 23 stores across Bengaluru and generates annual revenue of around Rs 110 crore. Annually, the company handles approximately 1.6 million to 1.8 million orders, and on average, 10,000 to 12,000 customers visit multiple stores each month.

Mahesha said, “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.”

Licious’s Bengaluru sales are predicted to increase from Rs 250 crore to Rs 400 crore as a result of this acquisition. This is in line with the company’s aim to dramatically increase its omnichannel presence by opening 500 offline outlets in strategic areas over the course of the next three years.

Licious, established in 2015 by Abhay Hanjura and Vivek Gupta, has focused on the disjointed and unorganised meat sector in India.

As of right now, the company operates 100 distribution locations to service 20 cities and five state-of-the-art processing plants. The Annual Revenue Run Rate (ARR) for Licious as of October 2024 was approximately Rs 800 crore ($100 Mn).

With around $490 million raised thus far, the D2C unicorn was reportedly valued at $1.5 billion in March 2023. Licious has undergone a significant restructuring in spite of challenges. 

In February, the company laid off about 80 employees, or 3% of its 3,000 overall workforces, spanning several industries. Prior to this, Licious employed about 650 corporate staff members and 2,400 people in the supply chain and production.

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