Grocery Platform Misfits Market Acquires The Rounds to Advance Its Food Waste Reduction Goals

Misfits Market Expands Its Mission: Acquiring The Rounds to Tackle Food Waste

In an exciting development for sustainability enthusiasts, Misfits Market, the innovative online grocery service that champions imperfect produce, has announced its acquisition of The Rounds, a household essentials restocking service. This move, unveiled on Friday, marks a significant step in Misfits Market’s mission to reduce food waste while enhancing its product offerings.

With this acquisition, Misfits Market is set to integrate more than 250 unique items from The Rounds’ inventory, broadening its range to include essential household supplies—such as cleaning products and paper goods. This expansion not only diversifies their catalogue but also fortifies their commitment to sustainability.

To welcome The Rounds’ customer base into the Misfits family, the platform is rolling out generous incentives: a $30 credit and a complimentary one-year subscription to Misfits+, their exclusive membership program that features weekly deals and free shipping.

Details on the financial terms of the acquisition remain under wraps. Additionally, while the company has not identified any potential layoffs stemming from this transition, discussions are ongoing. The Rounds has successfully raised $66 million from a variety of notable investors, including Andrew Chen from Andreessen Horowitz and Annie Kadavy from Redpoint Ventures.

This strategic acquisition not only diversifies Misfits Market’s offerings but also opens doors to collaborate with previous partners of The Rounds, including major multifamily operators like AvalonBay, Greystar, and Related. Through this partnership, Misfits Market aims to solidify its presence within the grocery industry, particularly at a time when consumer awareness surrounding food waste and sustainability is surging.

"The market is ripe for consolidation, and we are always exploring potential deals," commented Misfits Market CEO Abhi Ramesh, indicating a forward-thinking approach as the company continues to examine opportunities for growth.

This marks the second acquisition for Misfits Market, which previously bought Imperfect Foods in 2022, another player in the sustainable grocery niche.

Founded in 2018, Misfits Market has made waves by prioritizing produce deemed "imperfect" by traditional standards, saving fruits and vegetables that are too small, unusually shaped, or discolored from being discarded by growers and suppliers. Meanwhile, The Rounds has provided an eco-friendly grocery delivery service since 2019, focusing on sustainable solutions through reusable packaging to eliminate home essentials replenishment waste.

So far, Misfits Market has successfully rescued over 238 million pounds of food from waste, while The Rounds has diverted over 1 million pounds of packaging waste, aiming to save an impressive average of 500,000 pounds of food weekly.

As the grocery landscape continues to evolve, Misfits Market’s latest acquisition encapsulates a commitment not just to profitability but to a broader cause—reducing food waste and promoting sustainability for a healthier planet.