Good Earth Organics Hoping Its Soil Becomes An Increasingly Crucial Element In Helping The Cannabis Industry Grow

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

By Mark Gilman

Good Earth Organics presented at the Benzinga Cannabis Capital Conference in June 2021.

With the cannabis industry gaining more and more acceptance and national legality, an entire host of complementary industries has emerged. While much of the public focus has been on dispensaries in the past few years, new companies like Good Earth Organics have entered the cannabis market to literally provide new and better growth opportunities.

Good Earth Organics is an eco-friendly company that uses a system of certified organic soils and nutrients with the goal of helping cannabis growers deliver high yields and pure, toxin-free plants. Based in Oregon, the company's clients range from 1,000-acre farms to window planters.

Good Earth Organics' soils and soil nutrients are blended from organic and natural ingredients sourced from around the world. The company has earned organic certifications from both the Organic Materials Review Institute and Clean Green, independent certifiers that test and approve soils for organic growing.

Its entry into the cannabis-friendly specialized soil market has also landed Good Earth Organics in some of the nation's largest online and brick-and-mortar stores. Good Earth Organics has closed distribution deals with Amazon AMZN, Walmart WMT and Hydrobuilder.

As an indicator of its successful strategic positioning in the cannabis market, Good Earth Organics posted revenue of $4.5 million in 2020, a 44% increase over 2019 and first quarter 2021 sales have increased by 51%. The company attributed its increased sales numbers to individual consumers and a broad base of customers in the cannabis and hemp-rich Emerald Triangle in Northern California as well as southern Oregon. As a burgeoning industry, the organic potting soil market as a whole surpassed $1.5 billion in 2019.

But the company also has seen recent growth in the non-cannabis growing market that it attributes to new and rediscovered habits drawn from the global pandemic.

"During the pandemic, people began gardening again, and they're doing organic gardening adding 18 million more gardeners than we had before, which positions us well with our specialized soil," Good Earth Organics Chief Strategy and Digital Officer Liz Wald said. "There's a real homegrown side to our business that may match the potential of the cannabis market."

On the cannabis front, Good Earth Organics also has benefited from the high level of regulation of the product and the fact that no company can afford to fail government testing. Because cannabis plants, and plants in general, get all of their food from the ground and the soil they're planted in, Good Earth Organics' soil can play a crucial role in a cannabis grower's success.

Good Earth Organics, which has been based in Oregon since its founding in 2008, is now venturing out of the Pacific Northwest and entering the Oklahoma market.

"We see some great opportunity for growth in Oklahoma and have just hired a salesperson there and see this market as a new hub to ship soil to markets across the U.S.," Wald said. "Most people are surprised to hear about the booming cannabis market in the state and the fact that Oklahoma is now 2nd per capita in dispensaries, next to Oregon, with more than 6,000 growers."

Good Earth Organics is now raising capital on SeedInvest through July 23, 2021, at Good Earth Organics - SeedInvest. To learn more about the company, go to www.goodearthorganics.com.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

Posted In: CannabisNewsMarketsGeneral
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