Edible Garden Available at Uncle Giuseppe’s Marketplace; Expands Company’s Distribution Network
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Insights
The partnership between Edible Garden and Uncle Giuseppe's Marketplace represents a strategic expansion in the controlled environment agriculture (CEA) sector, which is gaining momentum due to the rising consumer demand for locally grown, organic products. The distribution agreement with a well-established retail chain like Uncle Giuseppe’s, which operates 12 locations, can significantly enhance Edible Garden's market presence and brand recognition in the Northeast region.
From a market research perspective, this move could potentially increase Edible Garden's revenue streams and market share. The 'Zero-Waste Inspired®' label may resonate with the environmentally conscious consumer base, thereby strengthening customer loyalty and attracting new customers who prioritize sustainability. However, the success of this partnership will largely depend on the consumer acceptance of Edible Garden's products and the efficiency of their supply chain to meet the demand across these new retail points.
Edible Garden's announcement of its products being carried by Uncle Giuseppe’s Marketplace is likely to be viewed positively by investors and could impact Edible Garden's stock (Nasdaq: EDBL, EDBLW). The expansion into all of Uncle Giuseppe's locations presents a direct opportunity for increased sales volume and improved financial performance.
Investors should monitor the company's quarterly financial reports following this expansion to assess the impact on revenue and earnings. While the initial costs associated with expanding distribution networks could affect short-term profitability, the long-term benefits of expanded market reach and potential economies of scale could result in a favorable return on investment. It will be important to compare these financial outcomes with industry benchmarks to evaluate Edible Garden's operational efficiency and market strategy effectiveness.
The emphasis on locally grown, sustainable produce is a key factor in the CEA industry and Edible Garden's Zero-Waste Inspired® initiative aligns with current trends in environmental sustainability. As a Sustainability Analyst, the integration of Edible Garden's products into a mainstream retail chain like Uncle Giuseppe’s Marketplace could set a precedent for the industry, potentially influencing other retailers to prioritize sustainable and organic options.
The long-term implications for stakeholders include not only financial gains but also contributions to corporate social responsibility and positive brand image. The ability to maintain high fulfillment rates while adhering to sustainable practices will be crucial for Edible Garden to uphold its brand promise and to foster consumer trust. The potential extension of their reach to more RBest retail partners could amplify these impacts, but it remains essential to evaluate the scalability of their Zero-Waste Inspired® production methods.
Uncle Giuseppe’s Marketplace to Carry Company’s Products in all of their Retail Locations Across New York and New Jersey
BELVIDERE, New Jersey, Jan. 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, and sustainable produce and products, today announced that Uncle Giuseppe’s Marketplace, which operates under the umbrella of RBest Produce, will begin carrying Edible Garden’s products in all of their locations across New York and New Jersey.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, stated, "We are pleased to announce that Uncle Giuseppe’s Marketplace will be featuring our locally grown, sustainable, Zero-Waste Inspired® herbs at their 12 locations across New York and New Jersey. Their addition to our Northeast distribution network further develops our footprint in the region. We are optimistic that Uncle Giuseppe’s Marketplace will quickly realize the benefits of Edible Garden's outstanding performance and fulfillment rates. We are also hopeful that RBest Produce will see the added value Edible Garden brings to Uncle Giuseppe’s Marketplace, possibly extending our reach to more RBest retail partners. We look forward to enjoying a long relationship with Uncle Giuseppe’s Marketplace, providing them with the reliable service and high-quality products that their customers can count on.”
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 and US 11,410,249 B2) 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. In addition, the Company offers a line of sustainable food flavoring products such as Pulp gourmet sauces and chili-based products. For more information on Edible Garden go to https://ediblegardenag.com/.
Forward-Looking Statements
This press release contains forward-looking statements, including with respect to the Company’s overall profitability, ability to expand its distribution network and distribution relationships, and performance as a public company. The words “aim,” “believe,” “look forward,” “objective,” “plan,” “will,” “seek,” 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
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