Acquisition aligns with Edible Garden’s sustainable Zero-Waste Inspired® approach
Plan to leverage Edible Garden’s “greenhouse-to-grocer” distribution platform
BELVIDERE, N.J., Nov. 15, 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, today announced it has acquired the assets of Pulp, including its lines of sustainable gourmet sauces and chili-based products.
Pulp’s product lines are all-natural, Non-GMO and preservative free. The products include Hungarian Wax Hot Sauce, Poblano Serrano Jalapeno Hot Sauce, Fresno Chili Hot Sauce, Habanero Carrot Hot Sauce, as well as Salsa Macha, Chili Crisp, and Chili Oil. The line of products was developed and launched by Nicholas Gregory, a farmer and chef from Kansas with a love for peppers. As a huge fan of pepper flavors, he created Pulp sauces to include a minimal number of ingredients in order to let the peppers shine. Pulp is an alumni of the SKU accelerator program, which supports the growth of consumer product companies, and Ryan Rogers, a member of the Company’s board of directors, has served as a mentor with SKU.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, “We are excited to announce the acquisition of Pulp’s line of raw fermented sauces and chili products. We believe this is a significant opportunity for the Company to take a unique brand in a trending category and bring it to a mass market of consumers within Edible Garden’s growing network of major retail supermarkets and distributors across the country. Notably, these fermented sauces are located in the refrigerated section of supermarkets, typically adjacent to the produce section, allowing us to leverage Edible Garden’s growing brand recognition within this new category of products for the Company. We believe there is significant potential for these on-trend products based on consumer demand for flavorful and well-packaged products that are all-natural, preservative-free, sustainably produced and fresher than traditional sauces. We believe offering a refrigerated sauce that does not use any preservatives other than vinegar or thickeners will resonate well with both our existing and new customers.”
“We believe this acquisition aligns well with our Zero-Waste Inspired®, greenhouse-to-grocer approach. Importantly, we look forward to growing many of the ingredients, including the peppers, in our existing facilities, ensuring the ingredients are fresh, locally sourced, and sustainably grown. We look forward to bringing our distribution partners the best in sustainably produced sauces to go along with the best in sustainably grown produce that they have come to expect when they buy our products.”
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.
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
