Long Island Consumers Set to Enjoy Greater Access to the Company’s Fresh, Sustainably Grown Produce
Broadened Presence Presents Opportunity to Boost Third-Quarter Revenue
BELVIDERE, NJ, June 01, 2023 (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 partnership with King Kullen and IGA across all of their retail locations on Long Island, New York.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented, "We are pleased to broaden our distribution at both King Kullen and IGA retail locations across Long Island, New York, in time for the 2023 summer season. In response to growing consumer demand for the fresh produce and herbs that Edible Garden has built its reputation on, both King Kullen and IGA have doubled the shelf space that they have allocated in their retail locations for Edible Garden products. Historically, during the summer season, we see consumers taking vacations with many in the NY metropolitan area heading out to the eastern end of Long Island, an area well-renowned for its coastline and beaches. Many of these vacationers are year-round Edible Garden consumers, however in the past it has been difficult for them to find the fresh, sustainably grown produce that they are used to purchasing during the rest of the year. By increasing the shelf space allocated to Edible Garden produce and products, both King Kullen and IGA are providing a solution to meet the growing consumer demand.”
“We are delighted to step up and supply King Kullen and IGA retail locations on Long Island with all the produce they need to meet their customer demands. Moreover, this expansion of our distribution offers us an opportunity to increase third-quarter revenue, which is traditionally the lightest quarter of the year for Edible Garden. We are well aware of the seriousness with which consumers approach their summer barbecues and are proud to contribute, as the 'Flavor Maker', to making the summer season of 2023 the tastiest yet, not just on Long Island, but throughout the entire Edible Garden distribution network.”
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. 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 within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict including with respect to the Company’s growth strategies, the Company’s financial performance, the Company’s expansion into new distribution networks, the Company’s dependence on growers, and performance as a public company. The words “believe,” “expect,” “foresee,” “objective,” “project,” “seek,” “should,” “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, the Company’s ability to achieve its growth objectives, and other factors set forth in the Company’s filings with the Securities and Exchange Act Commission, including the Company’s annual report on Form 10-K for the year ended December 31, 2022. Actual results might differ materially from those explicit or implicit in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. 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
