Edible Garden Announces New Distribution with Gristedes and D’Agostino Supermarkets

Rhea-AI Summary

Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) is expanding its retail distribution by adding its products to 29 Gristedes and D’Agostino supermarkets located in Manhattan, Brooklyn, and Westchester. This strategic partnership aims to enhance product visibility and freshness through branded displays and advanced merchandising techniques. CEO Jim Kras emphasized the importance of high foot traffic in these urban locations and the company’s commitment to sustainability. Edible Garden's innovative packaging extends product shelf life, aiming to meet consumer demand while benefiting store owners.

Positive

• Expansion into 29 new retail locations enhances brand visibility.
• Products feature innovative packaging that extends shelf life by over 50%.
• Strategic partnership with established retailers in high-traffic urban areas.

Negative

• None.

Edible Garden Products to be Available in 29 Gristedes and D’Agostino retail locations, situated in densely populated, high-traffic Urban Areas, in Manhattan, Brooklyn and Westchester Counties

BELVIDERE, NJ, Dec. 06, 2022 (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 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 GRISTEDES
Gristedes 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 Statements
This 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, LLC
212-671-1020

EDBL@crescendo-ir.com

FAQ

What recent expansion did Edible Garden announce?

Edible Garden announced the expansion of its distribution to 29 Gristedes and D’Agostino retail locations in Manhattan, Brooklyn, and Westchester.

How does Edible Garden ensure product freshness in retail?

Edible Garden uses proprietary technology packaging that extends product shelf life by over 50% and ensures timely delivery within 24 hours.

What types of products will be available at Gristedes and D’Agostino supermarkets?

Products include 4" potted herbs, hydro basil, butterhead lettuce, and various cut herbs in bags.

What is the stock symbol for Edible Garden?

The stock symbols for Edible Garden are EDBL and EDBLW.