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Edible Garden AG Inc is a next-generation controlled environment agriculture farming company. It uses traditional agricultural growing techniques together with technology to grow fresh, organic food, sustainably and safely while improving traceability. The company uses the controlled environment of traditional greenhouse structures, such as glass greenhouses, together with hydroponic and vertical greenhouses to sustainably grow organic herbs and lettuces.
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 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 Edible Garden go to https://ediblegardenag.com/.
Edible Garden (Nasdaq: EDBL) announced a supply partnership with Una Pizza Napoletana, recently recognized as the number one pizzeria in both the world and America. The Company will provide its premium, locally and sustainably grown basil to the renowned pizzeria, known for its authentic Neapolitan-style pizzas.
Una Pizza Napoletana, founded by Anthony Mangieri, is celebrated for its meticulous attention to detail and use of finest ingredients, following traditional Naples, Italy culinary techniques. The partnership represents a collaboration between Edible Garden's sustainable farming practices and Una Pizza Napoletana's commitment to culinary excellence.
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.
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