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Misfits Market To Acquire Imperfect Foods

Sep 07, 2022•almost 3 years ago

Acquiring Company

Misfits Market

Acquired Company

Imperfect Foods

DelancoSan FranciscoFarmingGroceryFood And BeverageRetailE CommerceGroceryFood And BeverageRetailAgriculture and FarmingE Commerce

Description

Misfits Market, the online grocery platform driven by accessibility, affordability, and sustainability, today announced the acquisition of online grocer Imperfect Foods. The planned acquisition will unite both brands to deliver a better, more sustainable grocery experience and put the combined business on track to cross $1 billion in sales and reach profitability by early 2024.

Company Information

Company

Misfits Market

Location

Delanco, New Jersey, United States

About

Misfits Market is the direct-to-consumer platform that delivers groceries curated for quality, nutrition, sustainability, and flavor instead of appearances. The company has created the first-of-its-kind food value supply chain focused on building relationships with farmers, distributors, and producers to reduce food waste and make shopping for sustainable, high-quality groceries easier and more affordable. The company serves nearly every ZIP code in the contiguous U.S., has rescued more than 238 million pounds of food to date, and has raised more than $525 million in funding.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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