Zappfresh, a Delhi NCR-based meat delivery startup, has recently expanded its operations by acquiring Mumbai-based online meat and seafood delivery brand Bonsaro in an all-cash deal. Although the financial terms were not disclosed, this acquisition allows Zappfresh to strengthen its presence in the western Indian market as part of its strategic expansion plan.
By taking over Bonsaro’s operations and assets, Zappfresh aims to establish itself as a leading player in the direct-to-consumer (D2C) meat market in western India. The combined entity is projected to achieve a revenue of ₹160 crore in the financial year 2024-25 (FY25), with a significant increase in profit after tax (PAT).
Founder Deepanshu Manchanda emphasized that the acquisition of Bonsaro is a critical step in building a pan-India brand, particularly highlighting the importance of the Mumbai market. Zappfresh’s disciplined expansion strategy focuses on ensuring profitability in each city before moving to new markets.
This acquisition follows Zappfresh’s earlier purchase of Sukos Foods’ Dr Meat, which expanded its reach in southern India. The company, now a public entity, is also considering a public listing and aims to become the first D2C startup in the meat delivery segment to be listed on stock exchanges.
Despite the challenges in the D2C fresh meat market, including competition and market slowdowns, Zappfresh has managed to stand out as a profitable startup. In FY23, the company reported a profit of INR 3.5 crore with a revenue of ₹70 crore, positioning itself for continued growth in the competitive online meat delivery sector.
