GrowGeneration Corp. (NASDAQ:GRWG) continues to gobble up regional hydroponic stores as the chain keeps growing. This week alone, the company has announced the acquisition of a California operation and one in Oregon.
Today the company announced its acquisition of Mendocino Greenhouse and Garden Supply, aNorthern California-based hydroponic garden center, located inMendocino, California. It is said to bethe largest cannabis-producing region in the country includingMendocino,Humboldt, andTrinitycounties. GrowGen said thatsales are expected to surpass$8 millionannually.
“As the country’s largest legal cannabis market,Californiacontinues to be a critical market for GrowGeneration,” saidDarren Lampert, GrowGen’s CEO. “The Emerald Triangle continues to represent tremendous market potential. We are proud to expand our presence in the area through a highly respected and leading hydroponics store such as Mendocino Greenhouse and Garden Supply. ”
Founded by Nick Halfacre in 2005, Mendocino Greenhouse and Garden Supply has provided Northern Californiagrowers with specialty hydroponic supplies and professional horticultural consultation services. Mendocino Greenhouse and Garden Supply’s team of eight employees will join GrowGen’s team of over 600 grow professionals as part of the transaction, while Mr. Halfacre will stay on as the garden center’s General Manager.
Said Halfacre, “Mendocino Greenhouse and Garden Supply was founded by growers for growers, and that ethos is at the center of everything we do. We look forward to continuing to provide best-in-class supplies and services under the GrowGeneration name.”
Just two days ago, GrowGen said it was buying Aqua Serene, a southernOregon-based hydroponic garden center with stores inEugeneandAshland, Oregon. Aqua Serene is one ofOregon’s largest indoor/outdoor garden centers, with revenue of over$14 million annually. The Aqua Serene team of 10 employees will join GrowGen’s team.
“As the country’s fourth-largest legal cannabis market, Oregon continues to be a critical market for GrowGeneration,” said Lampert. “TheOregon market, in particular, represents tremendous market potential, with over thirteen hundred recreational producer cultivation licenses in the state. GrowGen is proud to expand its presence in the area through the acquisition of highly respected and leading hydroponics stores such as Aqua Serene.”
GrowGen Adds Mendocino, Aqua Serene Stores To Chain on Green Market Report. -