BELVIDERE, NJ, Oct. 08, 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, sustainable produce and products, today announced the expansion of its distribution partnership with Walmart, which now includes the introduction of sustainably grown Hydro Basil. To support this addition, Edible Garden has developed a custom-designed Basil Station display that integrates seamlessly into Walmart’s produce sections without disrupting existing planograms.
“We are excited to deepen our partnership with Walmart by introducing our sustainably grown Hydro Basil to select Walmart Distribution Centers (DCs) with opportunities for further distribution across additional DCs and U.S. locations in 2025,” commented Jim Kras, CEO of Edible Garden. “Our Basil Station display is designed to fit efficiently within Walmart’s existing planograms, highlights our commitment to innovation and our ability to meet the evolving needs of our retail partners. This collaboration reinforces our shared goal of enhancing the customer experience with fresh, sustainable produce. Walmart, the world’s largest fresh produce retailer, has been a key partner for Edible Garden, and our relationship extends beyond simply supplying produce. We are proud to actively support Walmart’s Project Gigaton—a groundbreaking initiative launched in 2017 to engage suppliers, NGOs, and other stakeholders in reducing or preventing one billion metric tons of greenhouse gas emissions across the global value chain by 2030. Edible Garden has also been recognized as a Project Gigaton ‘Giga Guru,’ a distinction that highlights our unwavering dedication to our Zero-Waste Inspired® mission and our leadership in the Controlled Environment Agriculture (CEA) sector.”
“As demand for organic and sustainably grown products continues to rise, Edible Garden is committed to providing products that meet the expectations of both our retail partners and today’s health-conscious consumers. With a reputation for delivering fresh, flavorful, and environmentally friendly products, Edible Garden is well-positioned to thrive in the growing market for healthier, eco-conscious food alternatives. This expansion of our partnership with Walmart marks another significant step forward for Edible Garden in its mission to make sustainably grown, high-quality produce more accessible to consumers nationwide.”
“Edible Garden has consistently maintained order fulfillment rates (“fill rate”) with our retail and distribution partners that surpass industry standards, reinforcing the strength of our existing retail relationships. Achieving this level of performance, even amidst unprecedented supply chain disruptions, highlights the exceptional service and operational excellence Edible Garden delivers to its customers. By continually exceeding the expectations of our partners, we have built trust with key retailers like Walmart, positioning ourselves as a reliable supplier of choice of sustainably grown produce. This trust opens the door to further expansion of our distribution partnerships, which we believe will positively impact our revenue growth in 2024 and beyond.”
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 in the U.S. Its proprietary GreenThumb 2.0 patented (US Nos.: US 11,158,006 B1, US 11,410,249 B2 and US 11,830, 088 B2) software optimizes growing in vertical and traditional greenhouses while seeking to reduce pollution-generating food miles. Its proprietary patented (U.S. Patent No. D1,010,365) Self-watering display is designed to increase plant shelf life and provide an enhanced in-store plant display experience. Edible Garden is also a developer of ingredients and proteins, providing an accessible line of plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands. In addition, the Company’s Kick Sports Nutrition line features premium performance products that cater to today’s health-conscious athletes. Furthermore, Edible Garden offers a line of sustainable food flavoring products such as Pulp gourmet sauces and chili-based products. For more information on Pulp products go to https://www.pulpflavors.com/. For more information on Vitamin Whey® products go to https://vitaminwhey.com/. For more information on Edible Garden go to https://ediblegardenag.com/. A copy of the Company’s latest corporate video is also available here.
Forward Looking Statements
This press release contains forward-looking statements, including with respect to the Company’s growth strategies, the Company’s ability to improve its financial results, and performance as a public company. The words “believe,” “design,” “expect,” “intend,” “objective,” “seek,” “strategy,” “will,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including market and other conditions, the Company’s ability to achieve its growth objectives, and other factors set forth in the Company’s filings with the Securities and Exchange Act Commission, including the Company’s annual report on Form 10-K for the year ended December 31, 2023 and subsequent quarterly reports. Actual results might differ materially from those explicit or implicit in the forward-looking statements. The Company undertakes no obligation to update any such forward-looking statements after the date hereof to conform to actual results or changes in expectations, except as required by law.
Investor Contacts:
Crescendo Communications, LLC
212-671-1020
EDBL@crescendo-ir.com
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