Terra Tech Corporation (OTCBB: TRTC), provider of sustainable agricultural products, has completed its acquisition of Edible Garden and its line of locally grown hydroponic produce, which is distributed throughout the Northeast.
Edible Garden has rapidly expanded its product availability from about 100 retail stores to covering close to 400 retailers throughout New Jersey, Connecticut, Delaware, Maryland, New York, and Pennsylvania in less than a year. This expansion has been due to consumers demanding fresher produce grown locally using environmentally sustainable methods.
Cost of acquisition was 1,250,000 shares of common stock.
Terra Tech has begun its regional expansion plan by purchasing and planning construction of an additional five acres of greenhouse on the Belvidere property. This facility will be solely dedicated to producing the full line of Edible Garden products for sale throughout their local market. At full capacity and at current prices, this facility can produce close to $10 million in sales annually for Terra Tech. The company anticipates having this facility completed by year-end.
For more information, go to www.terratechcorp.com.