The new award expands Edible Garden’s relationship with Target and is expected to increase distribution of the Company’s premium fresh-cut herb portfolio across a broad network of Target stores throughout the Midwest.
"Expanding our business with Target is an important win for Edible Garden and a strong reflection of the relationship we have built with one of the country’s leading retailers," said Jim Kras, Chief Executive Officer of Edible Garden. "Opportunities like this are earned through consistent execution. We believe our ability to provide high-quality fresh herbs backed by rigorous food safety standards, dependable supply and strong service has positioned us to take on a larger role within Target’s Midwest distribution network."
"Our Iowa operations are an important part of that equation. Having production strategically located near major retail distribution infrastructure helps shorten the distance between harvest and the consumer, allowing us to move product more efficiently, maintain the freshness consumers expect and support additional volume as our retail programs expand. This is exactly how we envisioned our regional platform working—putting the right capabilities in the right markets and then leveraging that infrastructure as we grow."
Edible Garden believes the Target award further validates its differentiated operating model, which combines regional production, disciplined supply chain management, proprietary GreenThumb 2.0™ technology and a network designed to support consistent fulfillment. The Company’s strategy is to position production closer to key retail distribution points in order to improve freshness, reduce food miles and shrink, and enhance service levels. As distribution expands through existing retail relationships, the Company believes this model can also support greater operating efficiency and more productive use of its Midwest infrastructure.
The award also advances Edible Garden’s broader strategy of expanding established customer relationships while leveraging its infrastructure across both fresh produce and its growing Farm-to-Formula® platform. The Company believes its expanding retail footprint and regional production capabilities provide a commercial foundation from which to pursue additional growth across clean-label nutrition, functional beverages and wellness products.
"We see significant opportunity to grow by doing more with the customers we already serve," Kras added. "Every time we expand an existing retail program, it demonstrates the value of the platform we have built and gives us another opportunity to leverage our infrastructure more efficiently. We remain focused on translating that momentum into sustainable growth and long-term value for our shareholders."