Retail

SoftBank-backed Plenty to supply 430 Albertsons stores in California

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An Albertsons store in Laguna Niguel, California

Scott Mlyn | CNBC

Vertical farming company Plenty, an ag-tech unicorn backed by SoftBank, announced Wednesday a partnership with Albertsons, marking the company’s first major retail deal.

Under the multiyear agreement, Plenty will provide 430 Albertsons’ stores across California with four types of greens – baby arugula, baby kale, crispy lettuce and mizuna mix — priced between $4 and $5, in line with other organic greens.

The deal is a pivotal moment for the data-driven company, which uses machine learning and customized lighting to optimize for taste. Analytics run deep in the company’s DNA; it boasts a roster of engineers — a fair…



Source cnbc.com

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