Edible Garden AG Inc (NASDAQ:EDBL) has entered into an expanded distribution alliance with Walmart Inc (NYSE:WMT).
The agreement includes providing additional stock-keeping units (SKUs) in Walmart locations across the Northeast and broadening Edible Garden’s reach to retail locations in the East South-Central region of the United States.
“Edible Garden has consistently achieved order fulfillment rates (“fill rate”) across all of our retailers and distribution partners that exceed industry averages, and in particular, we believe that achieving a fill rate in excess of 100% during the 2022 holiday season further strengthened our existing relationship with Walmart,” said CEO Jim Kras.
“By continuing to exceed our partners’ expectations, we believe retailers such as Walmart have gained confidence in Edible Garden as a trusted, dependable supplier of sustainably grown produce and may look to identify opportunities to further enhance their distribution relationships with the Company.”
Edible Garden is also a participant in Walmart’s Project Gigaton, a 2017 initiative to engage suppliers, NGOs, and other stakeholders in reducing or avoiding one billion metric tons of greenhouse gases in the global value chain by 2030.
Edible Garden provides locally grown organic leafy greens and herbs at over 4,000 stores in the U.S.
Price Action: EDBL shares are trading lower by 0.83% at $1.28 in premarket on the last check Thursday.
