Business
Edible Garden Capitalizes on Distribution Platform with Launch of EG Direct Division
Aims to Provide Trusted Source of Partner Produce to Company’s Existing 4,000+ Retail Doors Expected to Positively Impact Revenue with Minimal Expected Impact
About this update from Edible Garden Ag Incorporated
[{"type":"text","content":"Aims to Provide Trusted Source of Partner Produce to Company’s Existing 4,000+ Retail Doors Expected to Positively Impact Revenue with Minimal Expected Impact on Costs GreenThumb 2.0 Patented Software to Play Pivotal Role in Managing the Process BELVIDERE, NJ, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL), a leader in controlled environment agriculture (CEA), locally grown, organic and sustainable produce and products, announced the launch of EG Direct, a division of Edible Garden. This new division will source and provide, partner produce to the Company's retail distribution network partners. Mr. Jim Kras, Chief Executive Officer of Edible Garden, stated, “I am excited to announce the launch of EG Direct, a division of Edible Garden. The Company consistently outperforms the competition, as evidenced by our superior order fulfillment rates across all retailers and distribution partners, consistently surpassing industry norms. This high level of performance demonstrates Edible Garden's unwavering commitment to delivering excellent service and execution to its distribution network partners and their more than 4,000 retail locations. By continually exceeding partner expectations, we believe our retailers recognize Edible Garden as a reliable, trustworthy source of produce. We view EG Direct as an opportunity to leverage our relationships with retail partners, by adding new revenue streams through the distribution of key, high volume, produce items such as broccoli, carrots, and potatoes, to name a few.” \"We intend to utilize our advanced GreenThumb 2.0 greenhouse management system which will play a pivotal role in the operation of EG Direct. We believe that EG Direct may significantly impact Edible Garden's top and bottom line due to the Company’s established infrastructure.\" ABOUT EDIBLE GARDEN®Edible Garden AG Incorporated is a leader in controlled environment agriculture (CEA), locally grown, organic and sustainable produce and products backed by Zero-Waste Inspired® next generation farming. Offered at over 4,000 stores in the US, Edible Garden is disrupting the CEA and sustainability technology movement with its safety-in-farming protocols, use of sustainable packaging, patented GreenThumb software and self-watering in-store displays. The Company currently op...