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GrowGeneration Acquires GreenLife Garden Supply to Create USD 15m Hydroponic Supply Operation.

M2 EQUITYBITES-May 17, 2019-GrowGeneration Acquires GreenLife Garden Supply to Create USD 15m Hydroponic Supply Operation

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17 May 2019 - Colorado, US-based hydroponic and organic garden centre network GrowGeneration Corp. (OTCQX: GRWG) has acquired the assets of Massachusetts, US-based GreenLife Garden Supply, to expand hydroponic supply operations in New England, the company said.

Terms of the transaction were not disclosed.

GrowGen said GreenLife marks its 5th acquisition in 2019, adding USD 7m in revenue to the company.

This acquisition positions the company well to service the adjacent that are moving toward adult-use legalisation of marijuana.

GrowGen owns and operates speciality retail hydroponic and organic gardening stores.

Currently, GrowGen has 24 stores and an online superstore for cultivators.

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Date:May 17, 2019
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