Edible Garden Order Fulfillment Rate Exceeds Industry Average, Contributing to Successful Holiday Season
13 January 2023 - 12:30AM
Edible Garden AG Incorporated (“Edible Garden” or the
“Company”) (Nasdaq: EDBL, EDBLW), a
leader in controlled environment agriculture (CEA), locally grown,
organic, sustainable produce and products, today announced that it
has achieved above-industry order fulfillment rates, which led in
part to a successful 2022 holiday season.
Mr. Jim Kras, Chief Executive Officer of Edible
Garden, commented, “We are proud to report that during the recent
2022 holiday season, the Company’s order fulfillment rate (“fill
rate”) across all of our retailers and distribution partners
contributed to a successful holiday season. Our overall fill rate
exceeded industry averages, and in particular, we achieved a fill
rate in excess of 100% at one of the nation’s largest operators of
supercenters, further strengthening our existing relationship with
this retailer. Achieving this level of performance, despite
the unprecedented supply chain challenges facing the industry,
demonstrates the high levels of service and execution that Edible
Garden is able to provide to its customers. By continuing to exceed
our partners’ expectations, not only during the holiday season, but
throughout the entire year, we believe that our partners have
gained confidence in Edible Garden as a trusted, dependable
supplier for sustainably grown produce.”
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 plans to offer a line of
sustainable food flavoring products such as Pulp gourmet sauces and
chili-based products.
FORWARD LOOKING STATEMENTSThis
press release contains forward-looking statements, including with
respect to the Company’s growth strategies, ability to maintain and
expand its distribution network and distribution relationships, and
performance as a public company. The words “believe,” “intend,”
“plan,” “seek,” “strategy,” 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,
LLC212-671-1020
EDBL@crescendo-ir.com
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