Deals
Misfits Market Buying Fellow Odd-Looking-Items Seller Imperfect Foods
- Combined company may sell shares instead of raising more funds
- Both companies pitch themselves as helping prevent food waste
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Online grocer Misfits Market Inc. said Wednesday it will acquire competitor Imperfect Foods Inc., bringing together a pair of companies that sell consumers sometimes-weird-looking food that might otherwise end up in landfills.
Misfits declined to share financial details of the mostly stock deal. Chief Executive Officer Abhi Ramesh said Misfits expects the combined business to have a valuation that’s greater than the sum of the two closely held companies.