Edible Garden Shares Up on Whole Foods Deal to Carry Products
March 08 2023 - 11:08AM
Dow Jones News
By Dean Seal
Shares of Edible Garden AG Inc. jumped more than 50% to a high
of $4.65 in early trading Wednesday after the company said Whole
Foods Market will start carrying its new line of Pulp sustainable
gourmet sauces and chili-based products in certain regions.
The Belvidere, N.J.-based controlled-environment-agriculture
produce grower said before the market opened Wednesday that Whole
Foods locations in the Mid-Atlantic and Southeast will carry the
Pulp products starting this summer. Edible Garden acquired the Pulp
product line in November.
Chief Executive Jim Kras said Wednesday that expanding into the
new Pulp product category moves the company into "what we believe
will be higher-margin products with longer shelf life."
"In addition, it will provide the brand with added visibility as
the product will be located in the refrigerated section, which is
adjacent to our products carried in the produce section," Mr. Kras
said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 08, 2023 10:53 ET (15:53 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Amazon.com (NASDAQ:AMZN)
Historical Stock Chart
From Aug 2023 to Sep 2023
Amazon.com (NASDAQ:AMZN)
Historical Stock Chart
From Sep 2022 to Sep 2023
