Belvidere, New Jersey, U.S.A.-based sustainable agriculture company Edible Garden has acquired assets – including environmentally friendly water treatment patents – from Fort Dodge, Iowa, U.S.A.-based NaturalShrimp for USD 12 million (EUR 10.7 million).
"The acquisition marks another exciting milestone in Edible Garden’s evolution as a leader in sustainable agriculture," Edible Garden CEO Jim Kras said. "By purchasing the assets of NaturalShrimp, we are not only gaining a highly innovative, sustainable aquaculture facility but also acquiring patented water treatment technologies that can be deployed across our greenhouse operations. These innovations have the potential to optimize water use and reduce environmental impact – benefiting both our operations and the planet."
The acquisition was achieved entirely through preferred stock and bolstered by a USD 3.5 million (EUR 3.1 million) investment from a NaturalShrimp affiliate, USD 3 million of which will be available immediately, bringing Edible Garden’s total investment in NaturalShrimp’s preferred stock to USD 15.5 million (EUR 13.8 million).
In a 14 May press release, Edible Garden said that the new assets, including the Iowa facility, would support strategic initiatives including expanded R&D, herb production, and strategic warehousing, as well as to integrate water treatment technology across its operations as part of its goals to achieve zero-waste and vertically integrate.
Kras added that the acquisition “significantly strengthens our balance sheet – without the need for additional debt – and increases shareholder equity, underscoring our commitment to a capital-efficient growth strategy.”
In February 2025, a court-appointed receiver decided that NaturalShrimp should liquidate its assets as a means of paying lenders, including Streeterville Capital LLC and Bucktown Capital LLC, both of which filed motions against the company for defaulting on loans.
The news of the motions filed came after NaturalShrimp announced, in 2023, the cancellation of a planned merger with Yotta Acquisition Corporation, a Nasdaq-listed corporation.
At the time, NaturalShrimp said it had already paid USD 575,100 (EUR 523,000) in expenses related to passing two deadlines for closing the acquisition, as well as a cancellation fee. The deal was intended to provide up to USD 105 million (EUR 95.5 million) in net cash proceeds for the company.
