Welcome to our dedicated page for Edible Garden Incorporated news (Ticker: EDBL), a resource for investors and traders seeking the latest updates and insights on Edible Garden Incorporated stock.
Edible Garden AG Incorporated (EDBL) is a pioneering force in the field of controlled environment agriculture (CEA). Utilizing both traditional and advanced agricultural techniques, the company focuses on growing fresh, organic food sustainably and safely, while enhancing traceability. Headquartered in Belvidere, New Jersey, and Grand Rapids, Michigan, Edible Garden operates state-of-the-art greenhouses and processing facilities.
The company stands out with its Zero-Waste Inspired® next-generation farming approach, which emphasizes sustainability and safety. Edible Garden's products are available in over 5,000 stores across the United States, making it a significant player in the CEA and sustainability technology sector. The company employs patented technologies like the GreenThumb 2.0 software (US Nos.: US 11,158,006 B1, US 11,410,249 B2, and US 11,830,088 B2) for optimizing growth in vertical and traditional greenhouses, as well as a self-watering display (U.S. Patent No. D1,010,365) designed to increase plant shelf life and enhance in-store display.
Edible Garden is not just about growing food; it is also a developer of plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands. Additionally, the company offers a line of sustainable food flavoring products, including Pulp gourmet sauces and chili-based products.
The company's commitment to reducing pollution-generating food miles is evident in its strategic network of contract growers located near major U.S. markets. This ensures that their organic herbs and lettuces, grown in controlled environments like hydroponic and vertical greenhouses, are always fresh and local.
Edible Garden's innovative approach and robust safety protocols have not only earned it a dedicated customer base but also positioned it as a disruptor in the CEA and sustainability technology landscape. For more information, visit Edible Garden AG.
Edible Garden (Nasdaq: EDBL) announced its participation in the 2025 Sequire Investor Summit in San Juan, Puerto Rico, scheduled for January 21-23, 2025. CEO Jim Kras will present the company's innovative approach to controlled environment agriculture and their Zero-Waste Inspired® sustainability commitment.
The company recently signed a non-binding letter of intent to acquire Narayan Group, a leading producer of organic coconut and superfood products. This strategic move aims to expand their presence in the sustainable, plant-based food products market by combining Narayan's European footprint with Edible Garden's North American distribution channels.
Additionally, Edible Garden's Kick Sports Nutrition line is set to launch exclusively on Amazon, partnering with Pirawna to optimize their market entry strategy.
Edible Garden (Nasdaq: EDBL) announced the planned launch of its new 'Better for You' product line, Kick. Sports Nutrition, exclusively on Amazon in Q1 2025. The company has partnered with Pirawna, experts in Amazon optimization, to ensure a strong market debut.
The product line includes protein powders, plant-based proteins, pre/post-workout formulas, and hydration products, targeting modern athletes seeking high-quality, personalized nutrition. This launch addresses the growing global sports nutrition market, projected to expand from $54.8 billion in 2023 to $103.3 billion by 2032.
Building on Edible Garden's Vitamin Whey protein line, Kick. Sports Nutrition aims to deliver premium performance products at accessible prices. Pirawna, managing over $500 million in annual Amazon revenue, will support the launch with programmatic targeting and competitor keyword optimization strategies.
Edible Garden (Nasdaq: EDBL) has signed a non-binding letter of intent to acquire Narayan Group, a Slovenia-based organic coconut and superfood products manufacturer. Narayan Group has shown strong financial performance with revenue of $22 Million in the first nine months of 2024, expecting Q4 revenue over $9.5 Million for a projected annual revenue of $31.5 Million in 2024.
The combined entities anticipate revenues exceeding $60 Million in 2025. Narayan's revenue grew from $12.1 Million in 2020 to $26.9 Million in 2023, generating $0.9 Million in net income and $3.0 Million in EBITDA for 2023.
The acquisition terms include issuing EDBL common stock to Narayan shareholders, who will receive a majority of fully-diluted outstanding shares. The deal is subject to due diligence, €6.0 million equity financing for Narayan, a reverse stock split of EDBL shares, and stockholder approval.
Edible Garden (Nasdaq: EDBL) has launched a new customer service platform integrated with its patented Green Thumb 2.0 greenhouse management system. The platform provides 24/7 customer access and is specifically designed for small to medium-sized retailers, focusing on improving operational efficiency and scalability.
The new system streamlines preorder and standing order management while optimizing delivery routing. It supports the company's Zero-Waste Inspired® mission and maintains their commitment to greenhouse-to-grocer delivery within 24 hours, ensuring fresher produce and a more sustainable supply chain.
The platform aims to enhance the overall customer experience while promoting sustainability and creating value for partners and communities served by Edible Garden.
Edible Garden (Nasdaq: EDBL) reported significant growth during the holiday season, with preliminary herbs and produce sales increasing by more than 45% year-over-year. This success follows a record-breaking Thanksgiving period that saw preliminary sales surge by over 50% compared to the previous year.
The company's distribution network spans over 5,000 retail locations, including major retailers like Meijer, Walmart, Wakefern/ShopRite, Hannaford, Target, Tops Friendly Markets, and H Mart. Edible Garden attributes its success to consistently high fulfillment rates and its commitment to providing high-quality, locally sourced, organic, and sustainable products aligned with its Zero-Waste Inspired® mission.
Edible Garden (Nasdaq: EDBL) has been awarded a Going PRO Talent Fund Grant from Michigan's Department of Labor and Economic Opportunity for its Heartland facility in Grand Rapids. The grant will support workforce development through training and development of current and new employees.
The funding will specifically reimburse training in quality control, facilities management, and production and inventory oversight, including on-the-job training for positions like Assistant Grower. The company aims to leverage this support to enhance its supply chain optimization efforts, building upon improvements already achieved through its proprietary GreenThumb greenhouse technology, which has led to increased shipping and fill rates, and sales growth.
Edible Garden (Nasdaq: EDBL) has entered into a warrant exercise agreement with an institutional investor for $3.0 million in gross proceeds. The transaction involves the exercise of 8,330,000 Class B Warrants at $0.36 per share, expected to generate net proceeds of approximately $2.8 million after fees.
In exchange for the immediate cash exercise, the investor will receive new Class A and B Warrants to purchase up to 8,330,000 shares each. The new warrants will have an exercise price of $0.36 per share, with Class A Warrants expiring in five years and Class B Warrants in eighteen months. Maxim Group served as the warrant inducement agent and financial advisor.
Edible Garden (Nasdaq: EDBL) reported a significant 51% year-over-year increase in preliminary sales during the Thanksgiving period of 2024. The company, which specializes in controlled environment agriculture and sustainable produce, maintained an industry-leading fulfillment rate exceeding 98%. CEO Jim Kras attributed this record-breaking performance to the company's focus on its complete herb line and core strengths, positioning Edible Garden as an innovative leader in sustainable and organic products. The company's Zero-Waste Inspired® mission and commitment to locally sourced products continue to strengthen relationships with retail partners while creating opportunities for distribution network expansion.
Edible Garden (Nasdaq: EDBL) announced its participation in the 2024 New York Produce Show and Conference, where it will showcase its USDA Organic herbs and produce at Booth 146 on December 11, 2024. The company will introduce its new Pickle Party kosher, Non-GMO product line, developed in collaboration with Hermann Pickle Company.
The company aims to capitalize on the fresh condiments market, which is projected to grow from $172.8 billion in 2021 to $240.7 billion by 2028. Edible Garden's product portfolio includes sustainable, USDA Organic, raw, and fermented product lines such as Pulp, Squeezables, and Pickle Party, targeting consumers seeking clean-label, better-for-you products.
Edible Garden (Nasdaq: EDBL) has expanded its USDA Organic herb distribution to additional Key Food, City Supermarket, and Lincoln Market locations across the New York Metropolitan Area. The expansion includes more than a dozen locally grown organic herbs, such as basil, cilantro, and parsley.
The company reported significant growth in its core business, with cut herb sales increasing by 55% in the first nine months of 2024 compared to the same period in 2023. This expansion aligns with Edible Garden's mission as 'The Flavor Maker' to deliver fresh, flavorful herbs while maintaining commitment to quality and sustainable farming practices.
FAQ
What is the current stock price of Edible Garden Incorporated (EDBL)?
What is the market cap of Edible Garden Incorporated (EDBL)?
What does Edible Garden AG Incorporated do?
Where are Edible Garden's facilities located?
What is the Zero-Waste Inspired® farming approach?
What is the GreenThumb 2.0 software?
What products does Edible Garden offer?
How many stores carry Edible Garden products?
What is the self-watering display?
What is Edible Garden's approach to sustainability?
Does Edible Garden offer any protein products?
How can I get more information about Edible Garden?
