Gurugram-based direct-to-consumer (D2C) meat brand Zappfresh has acquired Bonsaro, a Mumbai-based company known for its online delivery of poultry, goat and seafood.
The acquisition marks an important step for Zappfresh as it aims to strengthen its presence in the western region of India, particularly in Mumbai.
The development is part of Zappfresh’s broader strategy to create a pan-India brand with operations in key markets across the country.
Expansion into new markets
By acquiring Bonsaro, Zappfresh will take over all operations and assets of the company, allowing it to leverage Bonsaro’s established customer base and expertise in the Mumbai market.
“By integrating Bonsaro into our portfolio, we are poised to build a pan-India brand operating in key markets. Mumbai, being a critical market, will contribute significantly to our presence in the West,” said Deepanshu Manchanda, Founder of Zappfresh.
Over the next year, Zappfresh plans to further expand into other markets within the western region including Navi Mumbai, Pune and other satellite cities.
“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 reach break even,” Manchanda said.
Investment and growth plans
In the coming months, Zappfresh plans to invest significantly in Bonsaro’s operations to improve the overall customer experience and expand the range of products available.
The company will focus on improving service quality, maintaining high hygiene standards and offering a diverse line of products to meet the needs of its growing customer base.
Zappfresh, which has been profitable for the past two years, is targeting a revenue target of Rs 160 crore for fiscal 2024-25.
The company plans to fund the acquisition of Bonsaro through accruals and internal earnings.
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