Business
Edible Garden Signs 3-Year Expanded Distribution Agreements with Major U.S. Food Retailer; Expected to Generate $18 - $20 Million of Revenue Over the 3-Year Term
Expands assortment of potted and fresh-cut herbs and services BELVIDERE, NJ, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden”
About this update from Edible Garden Ag Incorporated
[{"type":"text","content":"Expands assortment of potted and fresh-cut herbs and services\nBELVIDERE, NJ, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today announced that the Company has signed 3-year agreements with a major U.S. food retailer to service, develop and expand the retailer’s current Edible Garden product assortment. Mr. Jim Kras, Chief Executive Officer of Edible Garden, stated, “We are excited to expand our relationship with this retailer, which will allow us to broaden the product range within their retail store locations. Products that will be added to an already robust offering will include both potted and fresh-cut herbs, fresh-cut basil, and wheatgrass. Beyond just broadening our product offerings, the collaboration will include the design and introduction of fresh, innovative displays paid for by Edible Garden, as well as enhanced visibility and prominence of the brand on the retailer's shelves. We believe that the agreements will generate approximately $18 - $20 million in revenue over the initial three-year term.” “These agreements underscore Edible Garden's dedication to strengthening relationships with all our retail partners as we are continually seeking innovative ways to better address their needs and simplify the shopping experience for their customers. At the heart of our operations, we remain committed to Edible Garden’s Simply Local, Simply Fresh® mission, ensuring that we deliver produce in a manner that is both sustainable and responsible.\" 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 5,000 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 operates its own state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey and Grand Rapids, Michigan, and has a network of contract growers, all strategically located near major markets ...