Edible Garden Announces New Distribution with Gristedes and D’Agostino Supermarkets
December 06 2022 - 8:30AM
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 an expansion of
its distribution with Gristedes and D’Agostino supermarkets to sell
Edible Garden products in 29 of their combined locations in
Manhattan, Brooklyn and Westchester.
In addition to an expansion of the distribution
network, Edible Garden plans to collaborate with Gristedes and
D’Agostino on the display and strategic placement of Edible
Garden’s products within their retail locations, utilizing advanced
analytics and time-tested merchandising techniques. New branded
displays will be set up with the products at strategic locations
within the stores. In addition, Edible Garden will work with their
buying teams to determine the appropriate, optimized, SKU mix for
each of the retail locations. Products will include all varieties
of 4” potted herbs, hydro basil, butterhead lettuce and all
varieties of cut herbs in bags to preserve their freshness.
Rick Rodriguez, Director of Produce at Gristedes
commented, “We have a longstanding relationship with Edible Garden
and look forward to enhancing our partnership by adding their
products into our retail locations. They have been a solid partner
over the years, and we believe their Zero-Waste Inspired® approach
aligns with the importance we place on sustainability. By adding
branded displays for their products in our retail locations, Edible
Garden is helping to enhance the consumer experience. Edible Garden
has proven to be a dependable and forward-thinking supplier and we
look forward to building on this relationship into the future.”
Mr. Jim Kras, Chief Executive Officer of Edible
Garden, commented, “We are proud to further expand our relationship
with Gristedes and D’Agostino supermarkets. Their retail locations
are ideally located in densely populated, urban areas that receive
high volumes of foot traffic, in the New York City metropolitan
area. In addition to expanding our retail footprint, our goal
continues to be to deepen our penetration and significantly expand
our product placement within their locations.”
“Gristedes and D’Agostino know how important
quality produce is to the neighborhoods it serves and is fully
committed to providing the freshest, most extraordinary mix of
produce at attractive prices. Their commitment resonates well with
our Zero-Waste Inspired® approach of producing healthier, locally
grown, and sustainably produced products that consumers demand.
Moreover, reducing consumer waste and improving product shelf life,
reduces shrinkage for the store owner—making this approach a
win-win for all parties. For example, using proprietary technology
packaging, we will be offering cut herbs in bags rather than in the
traditional clamshells, which extends the shelf life of the product
by 50% or more. Our state-of-the-art CEA facility is located in
close proximity to Gristedes and D’Agostino retail supermarket
locations, and our pick, pack, ship time will be 24 hours or less,
ensuring the freshest products and timely delivery as we ramp up
distribution. Overall, our number one goal is to supply products
that meet the changing demands of consumers, while making the store
owners job both easier and more profitable. We believe the
expansion of our distribution relationship is further validation of
the successful execution of our strategy as well as the growing
acceptance of the Edible Garden brand,” concluded Mr.
Kras.
ABOUT EDIBLE GARDEN®Edible Garden
AG Incorporated, is a leader in locally grown organic leafy greens
and herbs 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 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
software optimizes growing in vertical and traditional greenhouses
while seeking to reduce pollution-generating food miles. 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.
ABOUT GRISTEDESGristedes Supermarkets has
been feeding New Yorkers for over 100 years. Our stores offer fresh
meats, produce, dairy products, baked goods, frozen foods, gourmet
foods, and nonfood items. We at Gristedes strive to make every
shopping experience a great shopping experience. Our customers have
come to expect the best products at the lowest prices in town.
Gristedes proudly operates throughout Manhattan, Westchester, and
Brooklyn including a store on Roosevelt Island. After more than 120
years, Gristedes progress continues to grow every day. Management,
and associates alike, can well be proud of the history attached to
the name of this New York “landmark”.
Forward Looking StatementsThis press
release contains forward-looking statements, including with respect
to the Company’s growth strategies, ability to expand its
distribution network and distribution relationships, and
performance as a public company. The words “believe,” “expect,”
“intend,” “look forward,” “objective,” “plan,” “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 and the Company’s ability to
achieve its growth objectives. 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,
LLC212-671-1020
EDBL@crescendo-ir.com
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