Misfits Market acquires Imperfect Foods

Online grocery platform Misfits Market, which is driven by the goals of affordability, sustainability and accessibility, has acquired fellow online grocer Imperfect Foods. The two brands aim to deliver a better, more sustainable grocery experience, and the combined business is expected to cross $1 billion in sales and reach profitability by early 2024.

“We have a tremendous opportunity to advance the shared mission of both brands, which is nothing less than a fundamental re-imagining of both the grocery category and the broken U.S. food system,” said Misfits Market founder and CEO Abhi Ramesh. “The strengths of the Imperfect Foods organization, from its in-house delivery fleet and robust private label program to its sustainability commitments and innovation, add immediate scale and depth to what we’re building at Misfits Market. 

The acquisition of Imperfect Foods brings complimentary and sustainably designed delivery networks to Misfits Market, and as a result of the acquisition, Misfits Market is well positioned to continue building a supply chain that combats inefficiency, lowers prices and continues to improve how consumers shop for groceries online. 

“Scale matters in grocery, and this combination makes us a truly meaningful disruptor in the space,” said Imperfect Foods CEO Dan Park. “Both organizations have made significant progress as individual brands — together we have already rescued nearly 500 million of pounds of food that may otherwise have gone to waste and driven innovation in a category propped up by antiquated technology and thinking. The combined experience and expertise of this newly merged team will exponentially increase our ability to take on established players in the traditional grocery space.”