Converted Organics Inc. (Nasdaq: COIN) uses state-of-the-art technologies to create organic soil amendments or fertilizer products through food waste recycling. The company’s products have been tested in numerous field trials and are expected to be distributed to the retail, turf management and agribusiness markets.
The company today announced it will team up with North American marketing group Gro Group Inc. as a manufacturing partner next year. Converted Organics will supply its organic granular fertilizer for lawn, turf, flower and garden use and distribute those products through seven of Gro Group’s major distributors, which service up to 15,000 lawn and garden retailers throughout the United States. Gro Group’s distributors service more than 90 percent of independent lawn and garden retailers in the United States and Canada.
For Converted Organics, this relationship will allow the company to benefit from ongoing strategic sales and marketing efforts and will help the company secure its position in the industry.
“Converted Organics is extremely excited to partner with Gro Group distributors to provide lawn and garden retailers with our high-quality, all-natural, organic granular fertilizer,” Richard P. Aleo, executive vice president of Sales and Marketing for Converted Organics stated in the press release. “Our product compliments and supports Gro Group’s objective of empowering distributors to provide retailers with a competitive edge in the marketplace by supplying the finest quality products at the best dollar value.”
The company’s fertilizer products will be available in both a dry pellet and liquid concentrate, which help restore the soil by replenishing vital micronutrients, and will reduce chemical run-off to streams, ponds and rivers.
Shares of Converted Organics jumped nearly 13 percent by noon Tuesday, spurred by word of the strategic partnership.
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