Key Takeaways
- Edible Garden AG Incorporated reported a significant increase in sales during the Thanksgiving period.
- CEO Jim Kras highlights the company’s 98.5% fulfillment rate as a key success factor.
- The company’s distribution network includes over 5,000 retail locations, featuring major retailers.
Overview of Thanksgiving Sales Performance
Significant Sales Increase
- Edible Garden experienced over a 45% year-over-year increase in preliminary sales results during Thanksgiving 2023. This marks considerable growth, showcasing the company’s robust performance in a key holiday season.
CEO’s Perspective
- CEO Jim Kras expressed pride in the company’s record-setting sales. He emphasized the importance of the 98.5% fulfillment rate, which ranks among the industry’s best. This high fulfillment rate is seen as an indicator of Edible Garden’s reliability and efficiency as a supplier.
Edible Garden’s Market Position and Operations
Controlled Environment Agriculture (CEA) Leader
- Edible Garden is a leader in controlled environment agriculture, focusing on locally grown, organic, and sustainable produce. The company is recognized for its innovative approach in the CEA and sustainability technology movement.
Distribution Network and Partnerships
- The company’s distribution network extends to over 5,000 retail locations in the U.S., including partnerships with industry leaders like Meijer, Walmart, Wakefern/Shoprite, Hannaford, and H Mart. These partnerships reflect the value placed on Edible Garden’s high-quality, locally sourced, organic, and sustainably produced goods.
Zero-Waste Inspired® Mission
- Edible Garden’s operations align with its Zero-Waste Inspired® mission, focusing on sustainability and reducing environmental impact. This mission is integral to the company’s strategy and is recognized and valued by its partners and customers.
Edible Garden Ag News:
Edible Garden Ag Inc & BRISEA Partner (2023/11/20)
Edible Garden AG and BRISEA Group Inc. have partnered to deploy a nanobubble generator demo unit at Edible Garden’s New Jersey facility, a significant step in applying advanced technologies in sustainable agriculture. The nanobubble generator will be evaluated for two years, gathering valuable data on its effects on fresh produce safety and processing methods. Edible Garden is a leader in CEA, offering locally grown, organic, and sustainable produce, while BRISEA Group specializes in advanced environmental technology. This collaboration holds the promise of transforming the landscape of green agriculture and unlocking new methods to enhance the safety and efficiency of food production.
Edible Garden’s Third Quarter Financial Results for 2023 (2023/11/14)
Edible Garden AG reported a 19.4% YoY revenue growth in Q3 2023 due to an expanded distribution network and diversified product offerings. They partnered with Woodman’s Markets, Tops Friendly Markets, and Walmart. The company expanded its product lines and implemented innovative technologies to reduce spoilage. Edible Garden reported a net loss of $2.4 million for the quarter but remains committed to achieving positive cash flow by year-end.
Edible Garden Partners with Tops Friendly Markets (2023/10/31)
Edible partnered with Tops Friendly Markets to expand its network. The supermarket chain will feature Edible Garden’s products in its New York, Pennsylvania, and Vermont stores. Edible is a leader in sustainable produce and controlled environment agriculture. With state-of-the-art facilities in New Jersey and Michigan, the company is committed to revolutionizing sustainable technology. Their innovative safety protocols in farming, commitment to sustainable packaging, and proprietary software set them apart in the industry.
Edible Garden AG Receives USDA Grant for Organic Certification (2023/10/24)
Edible Incorporated, a pioneer in controlled environment agriculture (CEA), has received a grant from the United States Department of Agriculture Organic Certification Program. The grant aims to provide financial aid to organic producers and handlers to reduce the overall expenditure related to organic certification and processing. CEO Jim Kras expressed his gratitude for the recognition, highlighting the significance of the grant in reimbursing expenses incurred at the Edible Belvidere, New Jersey facility. The company’s commitment to sustainable agriculture and collaborations with the USDA position them as a critical player in the field of CEA.
Edible Garden’s New In-Store Herb Displays (2023/10/23)
Edible Garden AG Incorporated recently showcased its new in-store displays at the Global Produce & Floral Show. The displays are designed for cut herbs, with a capacity of up to 144 clamshell packages of popular holiday herbs such as rosemary, sage, and thyme. These displays are set to feature in all Meijer retail locations, with three compartments facilitating easy restocking using a 48-count PDQ pallet. Edible Garden sees the versatility of these displays as a conduit to expand sales volumes and position themselves as valuable partners bringing in inventive solutions to drive sales.
Edible Garden Adds New Flavors to its Vitamin Whey Product Line (2023/10/11)
Edible Garden AG has started shipping two new flavors, ‘Ice Cream Cake’ and ‘Orange Creamsicle,’ to all Meijer retail outlets. The flavors expand the Vitamin Whey product line available at Meijer. The CEO of Edible Garden, Jim Kras, expressed his enthusiasm regarding the expansion. Vitamin Whey combines multi-vitamins, high whey protein, and amino acid complex formulas to aid muscle recovery and overall health. Edible Garden is focused on reducing the ecological footprint of agriculture, and Nutracom is central to the recent product flavor expansion.
Edible Garden Expands its Pulp Sauce Line (2023/09/26)
Edible Garden AG Inc. (Nasdaq: EDBL, EDBLW) has partnered with Dierbergs Markets to introduce their Pulp sustainable gourmet sauces in 26 stores across the greater St. Louis metropolitan area and a single outlet at Missouri’s Lake of the Ozarks. Edible Garden’s CEO, Jim Kras, expressed his satisfaction over the partnership, stating that the move towards sustainable gourmet sauces exemplifies their commitment to sustainability and innovation.
Edible Garden Begins Fall Shipments from Heartland Facility (2023/09/25)
Edible Garden AG Inc. has started shipping fall ornamentals from its Edible Garden Heartland facility in Grand Rapids, Michigan. CEO Jim Kras is excited about this year’s offerings, including the fan-favorite mums and newly introduced marigolds for 2023. The plants are being sent to big-box stores across the company’s distribution spectrum. The advanced technologies integrated into the facility have significantly enhanced the efficiency of the supply chain. Edible Garden plans to enhance its ornamental business within its current distribution framework while exploring opportunities to expand its catalog to prospective clients outside its current network.
Edible Garden Partners with Woodman’s Markets (2023/09/20)
Edible Garden AG Inc. (Nasdaq: EDBL, EDBLW) will distribute its products to all 19 Woodman’s Markets locations across Wisconsin and Illinois. The partnership allows the company to expand its distribution network in the Midwest and leverage its new Heartland facility. Woodman’s Markets will feature Edible Garden’s self-watering display technology in all its locations to enhance the presentation of the produce. The large retail locations of Woodman’s with high traffic volume make them an ideal partner for Edible Garden.
Edible Garden’s Gourmet Sauces Launch in Morton Williams (2023/09/15)
Edible Garden AG Inc. announces a partnership with Morton Williams Supermarkets to feature its newly launched Pulp sustainable gourmet sauces. The move marks the company’s first significant venture into the dynamic New York City market. The product range aligns with Zero-Waste Inspired® vision and offers high-margin products boasting an extended shelf life. Edible Garden AG is a leader in controlled environment agriculture and sustainable technology landscapes. The company has products in over 4,000 stores across the US, and its pioneering efforts span safety-in-farming protocols, sustainable packaging solutions, innovative GreenThumb software, and self-watering in-store displays.
Edible Garden AG Announces Public Offering Pricing (2023/09/08)
Edible Garden AG (Nasdaq: EDBL, EDBLW) is offering 2,700,726 units, each containing a common stock share and a warrant. The units cost $1.10 and will generate gross proceeds of around $3 million. The warrants can be executed immediately and will expire five years after issuance. The underwriters have an additional option to buy 405,108 shares and warrants. The offering is expected to close on September 8, 2023. Maxim Group LLC is managing the book-running activities. For more information, including obtaining copies of the final prospectus, interested parties can contact Maxim Group LLC.
Edible Garden Receives Patent for Self-Watering Display (2023/08/22)
Edible Garden AG Inc. has been granted a patent for its Self-Watering Display, a technology that can transform how plants are presented in stores. The display system leverages controlled environment agriculture to create an ideal environment for plants, ensuring they remain hydrated and fresh for extended periods. The technology has already shown its value in reducing spoilage at retail locations. The Self-Watering Display was first introduced at Meijer locations and has paved the way for a nationwide rollout with other retail partners. Edible Garden’s focus on controlled environment agriculture, locally grown produce, and sustainable farming practices is encapsulated in its proprietary GreenThumb 2.0 patented software. The company also offers sustainable food products, highlighting its comprehensive approach to sustainable agriculture and its dedication to providing consumers with high-quality, environmentally friendly options.
Edible Garden Receives USDA Grant (2023/08/16)
Edible Garden AG Inc. received financial assistance from the USDA Organic Certification Program to reimburse expenses related to obtaining organic certification. This grant solidifies the company’s commitment to sustainable practices and offers consumers assurance that their products align with their values. Obtaining organic certification is a costly process, and this grant will help offset expenses, promoting the growth of the organic sector. Edible Garden is involved in research partnerships and is currently studying the impact of nanobubble technology on food safety and processing procedures.
Edible Garden Introduces New Division: EG Direct (2023/08/12)
Edible Garden AG Inc. has launched EG Direct, a new division that will source and supply partner products to the company’s extensive retail distribution network. With over 4,000 retail locations in its distribution network, Edible Garden has cemented its reputation as a dependable produce provider. EG Direct aims to capitalize on its robust retail relationships by introducing new revenue avenues. The company plans to integrate its cutting-edge GreenThumb 2.0 greenhouse management system into EG Direct’s operations to significantly bolster revenue and profit margins.
Edible Garden Reports Strong Growth and Expansion in Q2 2023 (2023/08/11)
Edible Garden AG Inc., a leader in controlled environment agriculture, has reported a remarkable 41.4% year-over-year revenue growth in the second quarter of 2023, showcasing its resilience and expansion in a challenging market. The company’s success is attributed to its exceptional service, high order-fill rates, and retail solid partnerships with major retailers nationwide. A strategic shift in focus has led to a significant 168% increase in gross profit, partly due to the launch of Edible Garden Heartland, which enhances production capacity and operational efficiency. The company has seen growth across various segments, including leafy greens, floral, alternative proteins, and its Pulp Flavors product line, and has expanded its distribution network, notably with Walmart. The introduction of GreenThumb 2.0, an advanced greenhouse management system, underscores its commitment to innovation and operational excellence. Financially, Edible Garden achieved a record $4.2 million in revenue in Q2 2023, significantly reducing its net loss from the previous year and positioning it for continued success in the controlled environment agriculture sector.
Unveils Greenthumb 2.0 (2023/07/20)
Edible Garden AG has launched GreenThumb 2.0, an upgraded version of its proprietary greenhouse management system. The cloud-based system provides enhanced forecasting abilities by utilizing real-time data to predict the needs of distribution partners and refine growing plans accordingly. The system also incorporates a real-time inventory system to closely monitor all raw materials, work-in-progress, and finished products, allowing for cost savings and process optimization.
Edible Garden Expands Distribution Alliance With Walmart (2023/07/21)
Edible Garden AG has expanded its distribution partnership with Walmart to offer a wider range of sustainable produce at their Northeast and East South Central locations. The expansion is a significant milestone in the company’s commitment to sustainable farming and environmental protection. Edible Garden’s participation in Walmart’s Project Gigaton and its proprietary GreenThumb 2.0 software has helped the company become a leader in controlled environment agriculture and sustainable products.
Edible Garden Promotes David Ross to VP of Sales and Marketing (2023/06/30)
David Ross has been promoted to Vice President of Sales and Marketing at Edible Garden AG Inc. Ross previously served as Director of Sales and Marketing and brings a wealth of experience from his time at Wakefern/Shoprite, Church and Dwight, and W.M. Bolthouse Farms.
Edible Garden AG Secures Grant Funding to Boost Food Safety Training (2023/06/23)
Edible Garden AG (Nasdaq: EDBL, EDBLW) has received grant funding from West Michigan Works! and the Michigan Department of Agriculture and Rural Development’s Specialty Crop Block Program. The funds will support leadership and food safety training initiatives for Michigan’s specialty crop industry, including Edible Garden’s Heartland facility in Grand Rapids. CEO Jim Kras expressed satisfaction with the grant application, stating it will strengthen the company’s ongoing commitment to food safety.
Edible Garden Extends Distribution with King Kullen & IGA Across Long Island (2023/06/02)
Edible Garden AG has expanded its distribution partnership with King Kullen and IGA across all their retail locations in Long Island. The allocated shelf space for Edible Garden’s products has been doubled in response to rising consumer demand for fresh, sustainably grown produce and herbs. The expanded distribution will be in place for the summer season of 2023 when many vacationers flock to the eastern end of Long Island.
Edible Garden AG Announces the Launch of Garden Starters in Retail Locations Across Midwest and Northeast (2023/05/18)
Edible Garden AG Inc. has launched Garden Starters, a product line of potted herbs and basil bowls that are designed for planting in home gardens. The products will be available at Meijer retail locations throughout the Midwest and Wakefern/Shoprite retail locations across the Northeast. 35% of American households grow some of their food, and Edible Garden’s sustainably produced herbs and products have become popular among consumers looking to enhance their food flavor. Garden Starters enables these consumers to buy Edible Garden potted herbs for their home gardens.
EDBL Q1 2023: Slight Revenue Decline & Strategic Shifts (2023/05/16)
Edible Garden AG Inc (Nasdaq: EDBL, EDBLW) announced its financial results for Q1 2023, ending March 31, 2023.
The Company reported a slight dip in revenue for the quarter. However, the gross profit improved, which indicates the effectiveness of its strategic redirection. The Company plans to introduce its newest facility, Edible Garden Heartland, to enhance profitability. It also anticipates reduced reliance on third-party contract growers, driving profitability through the vertical integration of its Midwest operations. The Company diversified into higher-margin products and expanded its distribution network, adding new retail partners like Whole Foods Market and Morton Williams Supermarkets.
Ships Spring Ornamentals From Michigan Facility (2023/05/03)
Edible Garden Ag Inc Launches Grand Rapids, Michigan Facility (2023/04/18)
Appoints Pamela DonAroma to Board of Directors (2023/04/11)
Reports on Sustainability Initiatives with Walmart’s Project Gigaton (2023/04/06)
Heartland Facility Obtains USDA Organic and PrimusGFS Certifications (2023/03/30)
Reports Revenue Growth But Miss On EPS (2023/03/23)
Latest Sauce Soon Available In Whole Foods (2023/03/09)
EDBL Regains Compliance (2023/02/16)
Edible Garden Ag Inc and Partners Study Nanobubble Technology (2023/02/10)
Closes $10.2M Underwritten Public Offering (2023/02/09)
EDBL Unveils a $10M Underwritten Public Offering (2023/02/03)
Perform a Reverse Stock Split (2023/01/25)
Morton Williams To Distribute Edible Garden’s Produce (2023/01/24)
Achieves Above-Industry Order Fulfillment Rates (2023/01/12)
Heartland Facility Ahead Of Schedule (2022/12/15)
Gristedes and D’Agostino Supermarkets To Distribute Edible Garden Products’ (2022/12/07)
New Retailers Now Sell Edible Garden’s Special “Poultry Mix” Potted Herbs (2022/11/17)
Acquires Pulp Flavors to Expand Presence in Sustainable Gourmet Sauces (2022/11/15)
EDBL Reports Q3 Results Showing Improved Performance (2022/11/11)
EDBL Received a De-Listing Notice (2022/10/24)
Expands Product Portfolio To Be Launched at Meijer Locations Across The Midwest (2022/10/21)
Announces Appointment of Deborah K. Pawlowski to Board of Directors (2022/10/18)
Facility to Open in Grand Rapids, MI (2022/09/01)
Increase Revenue But Incur Additional Losses (2022/08/16)
Edible Garden Ag Inc Reports Zero-Waste Inspired® ESG/Sustainability Mandate (2022/07/07)
Announces Product Distribution with Hemingways (2022/05/27)
Image provided by Edible Garden
