Dive Brief:
- Misfits Market has acquired The Rounds, a regional, member-based business that restocks essentials for shoppers using reusable packaging, according to a Friday announcement.
- Along with bringing its services to The Rounds’ members, the acquisition allows Misfits Market to increase its customer base by expanding its B2B offerings to larger corporate and multifamily operations.
- Misfits Market is continuing to steadily grow, with this deal marking the e-grocer’s second acquisition in three years.
Dive Insight:
The combination furthers both companies’ missions of making online grocery shopping more sustainable.
The Rounds, which serves customers in Atlanta, Philadelphia and Washington, D.C., offers last-mile and “near-zero-waste” grocery delivery, according to the announcement. Now, The Rounds’ members will have access to services and operations under Misfits Market, which works to limit food waste from the supply chain.
“The Rounds earned a loyal following by making low-waste, high-quality shopping seamless on a local level. We’re excited to welcome their members to Misfits Market, where that same mission continues at a national scale with more selection and deeper impact,” Misfits Market founder and CEO Abhi Ramesh said in a statement.
To kick off the partnership, The Rounds’ members will get a $30 credit when they join Misfits Market as well as a free year of Misfits+, which offers weekly grocery deals and free shipping, according to the announcement. Former members of The Rounds will also be able to use Misfits Market’s packaging return program that allows customers in certain areas to leave packaging for delivery drivers to pick up for reuse or recycling.
Misfits Market has been leaning into acquisitions and partnerships to expand its business. In 2022, the company announced plans to acquire fellow sustainable online grocer Imperfect Foods.
Early last year, Misfits branched into third-party fulfillment, supplying e-commerce fulfillment services to companies. A few months later, Gopuff tapped Misfits Market’s fulfillment services to launch a new fresh grocery assortment of more than 300 items.
