The acquisition is part of Misfits Market's broader growth strategy, which includes pursuing mergers and acquisitions in a market increasingly focused on sustainability and reducing food waste. Founded in 2018, Misfits Market has already rescued over 238 million pounds of food, while The Rounds has saved more than 1 million pounds of packaging waste. This marks Misfits Market's second acquisition, following its purchase of Imperfect Foods in 2022. The company continues to explore consolidation opportunities, as stated by CEO Abhi Ramesh, to further its mission and expand its reach.
Key takeaways:
- Misfits Market has acquired The Rounds to expand its inventory and diversify into household items.
- The acquisition includes a $30 credit and a complimentary one-year Misfits+ membership for transitioning The Rounds customers.
- The deal allows Misfits Market to collaborate with former partners of The Rounds and strengthen its industry presence.
- Misfits Market continues to pursue mergers and acquisitions as part of its growth strategy amid rising consumer awareness of food waste and sustainability.