Edible Garden AG Incorporated (NASDAQ: EDBL), a leader in controlled environment agriculture (CEA), organic and sustainable produce, and developer of the Zero-Waste Inspired® mission and Farm-to-Formula® platform, today announced that it has been awarded fresh-cut herb business through an additional Walmart (NYSE:WMT) distribution center serving the Upper Midwest.
The award builds upon the Company’s recently announced expansion with Walmart in the Mid-Atlantic region and extends Edible Garden’s growing retail presence into the Upper Midwest.
The additional distribution center will be serviced by Edible Garden Heartland in Grand Rapids, Michigan, further diversifying the facility’s customer base while supporting the Company’s strategy of creating a more centralized, scalable and efficient distribution network.
The Company believes the award has the potential to increase fresh-cut herb volume and improve operating efficiencies as demand grows, while providing a foundation for Edible Garden to pursue additional stores, products and regional opportunities with Walmart and other major retailers.
“This award represents another important expansion of our relationship with Walmart and establishes an additional supply-chain position for Edible Garden in the Upper Midwest,” said CEO Jim Kras.
“We believe it reflects Walmart’s confidence in our ability to consistently deliver fresh, high-quality herbs while meeting the food-safety, reliability, and service requirements of one of the world’s largest retailers.”
EDBL shares lost a dime, or 7.4%, to begin Tuesday at $1.25.
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