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GrowGeneration Corp (NASDAQ: GRWG) Acquires Mobile Media Inc. and MMI Agriculture Assets

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GrowGeneration Corp (NASDAQ: GRWG) has announced the acquisition of Mobile Media Inc. and MMI Agriculture assets for $9.4 million in stock and cash.

MMI is popular for “benching” for different industries 

MMI is a trusted producer of high-density mobile shelving systems, also known as “benching,” for various industries, including retail, commercial, agriculture, and government, providing a complete turnkey solution that includes design, personalized production, shelving systems, and installation throughout the United States. High-density mobile systems are essential features of agriculture grow facilities by keeping one mobile aisle in each grow system, boosting overall canopy space both across the floor and vertically. MMI has made a name for itself in the agriculture market by developing a tiered deck system integrated into the mobile system and allowing farmers to reach multiple vertical levels while maintaining overall system operation.

GrowGen Co-founder and President Michael Salaman said, “Indoor vertical farming solutions has become a strategic priority for GrowGen, and a key component of our long-term revenue generation plan. Lighting and benching are the first two key components of a grow facility. Combining the adoption of our Ion LED light and cost savings achieved through indoor vertical cultivation using MMI’s vertical benching systems is an important part of GrowGen’s value proposition. Together, GrowGen and MMI increase opportunities for growers by offering not just GrowGen’s robust selection of hydroponic solutions and products, but also a mobile system to utilize these products. This key strategic acquisition is especially important, as we expand in newly legalizing East Coast states.”

Combination of GrowGen’s solutions with MMI perfect for indoor cultivation  

MMI founder Lance Pennington said, “I started MMI, 35 years ago, with the goal of providing the highest-quality vertical racking systems and I’m fortunate to find a partner like GrowGen, one of the most trusted names in hydroponic and organic gardening. GrowGen’s leadership position in selling products into the indoor vertical farming industry combined with MMI’s indoor vertical racking systems now offers our customers a one stop solution for all their indoor cultivation products makes this the perfect partnership.”

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