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Edible Garden Acquires Condiment Firm Pulp For Undisclosed Sum

Benzinga · 11/15/2022 13:33
  • Edible Garden AG (NASDAQ:EDBLhas acquired the assets of condiment company, Pulp, including its lines of sustainable gourmet sauces and chili-based products. The financial details of the transaction were not provided.
  • Pulp's product lines are all-natural, Non-GMO and preservative free.
  • The products include Hungarian Wax Hot Sauce, Poblano Serrano Jalapeno Hot Sauce, Fresno Chili Hot Sauce, Habanero Carrot Hot Sauce, as well as Salsa Macha, Chili Crisp, and Chili Oil.
  • The line of products was developed and launched by Nicholas Gregory, a farmer and chef from Kansas.
  • “We believe this is a significant opportunity for the Company to take a unique brand in a trending category and bring it to a mass market of consumers within Edible Garden's growing network of major retail supermarkets and distributors across the country,” said CEO Jim Kras.
  • Edible Garden held $2 million in cash and equivalents as of September 30, 2022.
  • Price Action: EDBL shares are trading higher by 5.62% at $0.3760 on the last check Tuesday.