D2C meat brand Zappfresh acquires Bonsaro

D2C meat brand Zappfresh has acquired Bonsaro (Majestic Aliments India), which focuses on online delivery of poultry, goat, and seafood, for an undisclosed amount.

Through the acquisition, Gurugram-based Zappfresh aims to enter new markets in the western region of the country, including Navi Mumbai, Pune, and other satellite towns, within the next year.

Zappfresh has taken over the entire operations, business, and assets of Mumbai-based Bonsaro, the company said in a release. It plans to fund the acquisition through internal accruals and earnings.

The company is targeting a revenue of Rs 160 crore in FY24-25, with a significant jump in profit after tax, it said in the release.  

"By integrating Bonsaro into our portfolio, we are poised to build a pan-India brand that operates in key markets. Mumbai, being a critical market, will contribute significantly to our footprint in the west," said Deepanshu Manchanda, Founder, Zappfresh.

"Our expansion strategy remains disciplined—we expand one city at a time, ensuring profitability without compromising our bottom line. We only venture into new markets once we achieve break-even,” he added.

Over the next six months, ZappFresh plans to ramp up investments in Bonsaro's operations, enhance customer experience, and expand the product offerings.  

Licious and FreshToHome are the other players in the meat delivery segment. Zappfresh claims to be the only profitable D2C meat delivery platform. It is backed by SIDBI VC, Dabur Family Office, Letsventure, Keritsu Forum, HT, and several angel investors.