By Staff Reporter (staff@latinospost.com) | First Posted: Sep 25, 2013 04:36 AM EDT

About 40 percent of food products in the U.S. get thrown out every year just because they're past their sell-by date. Now, the ex president of Trader Joe's, Doug Rauch, seemingly found the perfect solution to put tons of wasted food to use.

Rauch is reportedly launching a grocery store and restaurant hybrid early next year. The facility will be called the "Daily Table" and will be established in Dorchester, Mass.

The "Daily Table" will be offering customers and clients food products at rock-bottom prices. The lot will consist of food products that are excess, overstocks and those thrown out by grocers due to their sell-by dates. Produce from farmers that are "nutritionally sound" and "perfectly good" but "cosmestically blemished" will also comprise the lot. The "Daily Table" will also be serving dishes cooked from these food products that are well past their sell-by and expiration dates. Rauch also adds that food products past their sell-by date are still absolutely safe to eat.