Edible Garden Targets Herb Margins Above 19% in Tennessee Farm Deal

Edible Garden AG Incorporated (EDBL) announced Oct. 23 that it plans to shift selected herb-growing work to Caney Fork Farms, LLC, under a Tennessee supply agreement targeting lower costs and higher margins for the transferred production. Production costs for those activities are projected to decline by more than 12%, with gross margin rising from about 4% to above 19%. The estimates apply only to output moved under the plan. The deal’s effect on results will hinge on rollout timing, production volume, customer demand, product mix and other operating conditions.

Source: TokenPost