Business
Edible Garden Transitions Business to Edible Garden Heartland on Schedule; Increased Efficiency and Owned Facility Expected to Positively Impact Margins
Shifts contract-grower production in-house; now shipping to major Midwest retailers BELVIDERE, NJ, April 03, 2024 (GLOBE NEWSWIRE) -- Edible Garden AG
About this update from Edible Garden Ag Incorporated
[{"type":"text","content":"Shifts contract-grower production in-house; now shipping to major Midwest retailers\nBELVIDERE, NJ, April 03, 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 a new initiative aimed at vertical integration of its Edible Garden Heartland facility in Grand Rapids, Michigan, allowing the Company to shift production of its potted herbs from contract-growers to in-house production which is expected to enhance the Company’s margins. Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, “As a result of our vertical integration initiative, I am pleased to announce we are now shipping the USDA Organic potted herbs produced at our Edible Garden Heartland facility to major distribution partners in the Midwest. This marks a significant expansion of our Midwest production capabilities and is expected to enhance our margins by reducing production costs. Since acquiring Edible Garden Heartland, we have integrated cutting-edge technologies, including our unique, patented GreenThumb greenhouse management system, which not only improves the traceability of our products but also streamlines our supply chain's efficiency. In addition, we have recently completed the installation of several high-speed packing lines at the facility, allowing the facility to operate at increased capacity. Having Edible Garden Heartland operate at a higher capacity enables us to shift from contract growers to in-house production, starting with potted herbs. We believe this vertical integration illustrates our commitment to maximizing the operating efficiency of our facilities as we forge ahead toward our goal of profitability.” 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 pro...