Curefoods, one of India’s largest cloud kitchen companies operating brands like EatFit, announced the acquisition of five D2C food brands going into the new year. With a view to become a powerhouse of the best food brands in the country, Curefoods will be doubling down on scaling and amplifying its footprint significantly in 2022 to become one of the largest players in this segment.
With the five food brands now on board, Curefoods has more than 20 brands in its portfolio and is looking to house a total of 25 brands by mid-2022, notably strengthening its D2C offering. The company is on an ambitious road to expand its presence in the coming year and obtain a geographical spread across 20 cities with 200 locations.
Curefoods’ scale expertise and technological know-how in the food business will help the acquired brands create better efficiency and output around a common tech and analytics platform. Under Curefoods’ purview, these brands will also see greater expansion – within their base city or to newer cities – and capital infusion as and when required to grow business. Curefoods will also be supporting them with branding and marketing strategies that will in turn positively impact revenue.
The newly acquired brands include the following –
- Juno’s Pizza – a deeply loved legacy pizza brand based out of Mumbai.
In a 100% acquisition by Curefoods, this brand will now see greater scale and expansion in western India.
- Cupcake Noggins – a Bengaluru-based cupcake brand and a leading player in this category. Curefoods will be merging this popular bakery into its CakeZone operations and is eyeing expansion across Bengaluru within the next six months.
- Organic ice cream brand, Iceberg is one of the fastest growing brands in this segment currently serving 25 flavours across Bengaluru and part of Andhra Pradesh. Under Curefoods, it will witness pan-India growth with expansion to 15+ cities.
- Delhi-based Nomad Pizzas is one of the fastest growing pizza delivery startups serving gourmet pizzas from around the world. Curefoods aims to take this highly rated pizza offering to multiple outlets in Delhi and other parts of the country.
- White Kitchens – a one-of-its-kind multi-brand cloud kitchen company based in Jaipur. Currently it serves three to four unique cuisines. The acquisition of White Kitchens will be instrumental to Curefoods’ Tier 2 expansion strategy.
In October last year, Curefoods had announced acquisitions of seven food brands, featuring the likes of ChaatStreet, Parathabox, and CakeZone. Alongside these acquisitions, Curefoods had also signed exclusive online rights for Aligarh House, Yumlane, and Sharief Bhai. These partnerships have been instrumental in growing Curefoods’ footprint across 10 cities and triggering revenue growth of 50% quarter-on-quarter. To continue treading along the successful model, Curefoods will be looking to onboard 5-7 more such brands in the coming quarters which will bring greater value to its D2C portfolio and the food ecosystem at large.
Commenting on the acquisitions, Ankit Nagori, founder at Curefoods, said: “We are excited to kickstart 2022 with five new brands on board making us a powerhouse of 20 odd leading food brands. India’s online food delivery marketing is estimated to touch ~$8 Bn this year and we are eager to play a huge role in shaping this segment. To cater to multiple eating occasions, cuisines, flavour profiles and regional nuances, we are bringing on a plethora of such companies – each a strong contender in its space with great products to offer. Our goal is to equip them further with our tech and business expertise to enable them to continue serving up some great dishes for customers.”
Gokul Kandhi, Business Head, Curefoods, said, “We are seeing great results from the brands we have already acquired and predict a $100 Million ARR for the coming year. With more brands on board and few more in the pipeline, we are well on our way to become a leading contributor to India’s fast-growing cloud kitchen ecosystem. We look forward to working with our partners and building a great platform that serves India exactly what it wishes to consume across diverse geographies and markets.”