Edible Garden signs 3-year distribution deals with major retailer; expects $18-20M revenue

Edible Garden AG Inc

Supply agreements with Meijer Distribution for fresh-cut herbs, hydroponic basil, potted herbs, and wheatgrass.
Expected revenue of $18-$20 million over the three-year initial term ending December 31, 2026.
Edible Garden to fund ~$800,000 in in-store display fixtures, deducted weekly from receivables.
Agreements effective January 1, 2024; renewable for two additional years by mutual consent.
Prices renegotiated annually with CPI cap; company may terminate if price increase not agreed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Edible Garden AG Inc entered into Agreements with Meijer Distribution, Inc. valued at approximately $800,000 (effective 2024-02-08).

Action: entry
Agreement: supply
Counterparty: Meijer Distribution, Inc.
Value: approximately $800,000
Effective: 2024-02-08

Exact text from the filing

On February 8, 2024, Edible Garden AG Incorporated (the “Company”) and Meijer Distribution, Inc. (“Buyer”) entered into two agreements pursuant to which the Company will supply and sell products to Buyer (the “Agreements”).

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119 material agreements filed in the last 30 days. Browse all material agreements →

Edible Garden AG Inc filing history →

Source: SEC EDGAR

accession 0001477932-24-000643

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