GrowProduction Buys San Diego Hydroponics & Organics, Amasses 55 Garden Centers
GrowProduction Corp. (NASDAQ:GRWG) purchased San Diego Hydroponics & Organics, a four-store series of natural, hydroponic and aquaponics garden facilities in San Diego, California.
The acquisition cost wasn’t disclosed.
GrowGen is becoming closer to attaining its objective of conducting a total of 55 garden facilities by the end of the year.
San Diego Hydroponics & Organics buy marks the hydroponics innovator’s fourth acquisition this year, pushing its overall number of hydroponic garden facilities to 50.
Out of these 50, GrowGen runs 17 shops in California, together with eight of these located in the southern portion of the country.
Earlier this year, the firm gained Washington-established Indoor Garden & Lighting in an attempt to enlarge across Seattle and Tacoma. Later, it bought Grow Depot, a two-store chain in Auburn and Augusta, Maine. The third purchase was of Grow Warehouse, a four-store chain of hydroponic and organic garden stores in Colorado and Oklahoma.
The Denver-based company reported that San Diego Hydroponics & Organics is considered a San Diego County’s leading hydroponic equipment supplierhaving annual earnings near $10 million. It also runs over 20,000 square-feet of retail area.
Per the bargain, 20 workers of San Diego Hydroponics & Organics will combine GrowGen’s team.
“Southern California is a priority market for GrowGeneration, and we are excited to add San Diego Hydroponics & Organics to our ever-expanding footprint there,” GrowGen CEO Darren Lampert stated. “As the leading hydroponics supplier, San Diego Hydroponics & Organics strategically positions GrowGen to conveniently provide our services to commercial growers in the Southern California market.”
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