Edible Garden AG Incorporated (NASDAQ: EDBL) saw its shares eke higher Friday. The company, a leader in controlled environment agriculture, organic and sustainable produce, and developer of the Zero-Waste Inspired® mission and Farm-to-Formula platform, today announced that Walmart has awarded a third distribution center for its fresh herb products.
The latest award, according to this morning’s news release, “builds on two previously announced distribution center wins and is expected to broaden the availability of Edible Garden products across additional Walmart stores in the Eastern Midwest, further expand the Company’s regional retail reach and advance its transition toward a scalable, distribution model designed to improve product freshness, fulfillment efficiency and supply-chain economics.”
The third distribution center award further expands Edible Garden’s Midwest footprint and is expected to provide the Company with access to additional Walmart stores and opportunities to increase fresh herb volume.
Supported by Edible Garden Heartland in Grand Rapids, Michigan, and Edible Garden Prairie Hills in Webster City, Iowa, the Company believes its growing distribution footprint can enable it to leverage its existing Midwest operations more effectively as volume increases, while providing a foundation to pursue additional stores, products and regional opportunities with Walmart and other major retailers.
EDBL shares acquired 3.5 cents, or 1.4%, to $1.215.
