GrowGeneration Corp (NASDAQ:GRWG) has announced the acquisition of San Diego Hydroponics & Organic, which is an organic, aquaponics, and hydroponics garden center four-store chain in San Diego, California.
GrowGen expanding in California
The acquisition brings the number of GrowGen hydroponics gardens stores to 50. San Diego Hydroponics & organics is a premier hydroponic solutions supplier whose annual revenue is estimated at $10 million. California is the US’s largest legal cannabis market, and GrowGen currently has 17 stores in the state, and eight of those are in south California
Darren Lampert, the company’s CEO, said that southern California is a priority market for the company, and they are delighted to add San Diego Hydroponics & Organics to their footprint. He added that the company is a leading hydroponics supplier in San Diego and will position GrowGen to offer services to commercial growers in the region conveniently.
GrwoGen acquires Grow House hydroponics center
The company recently announced Grow Warehouse acquisition, an organic and hydroponics garden store in Oklahoma and Colorado. With the acquisition, the company now brings the number of hydroponic garden centers to 46, with new location s in Oklahoma City, Oklahoma, Pueblo, and Colorado springs.
Lampert said that the company continues to acquire the best hydroponic stores to complement its growing footprint and expedite the growth strategy. He stated that Grow House is GrowGen’s third acquisition in 2021, and it brings additional space of 35,000 sq. ft. across four facilities. This is the type of acquisition that will continue positioning the company for long-term success and growth. The acquisition will bring around $8 million and eight hydroponic garden centers in Colorado and five in Oklahoma.
The company also acquired Grow Depot, a two-store chain hydroponics garden center in Auburn and Augusta, Maine. This acquisition increases the number of centers in Maine to five, with locations in Augusta, Auburn, Brewer, Biddeford, and York. With the expansion, the company expects revenue of $20 million from Maine in 2021.