Business
Greengro Technologies Expands Its Operations Into Colorado With Its 3rd Vertical Hydrogarden Retail Operation
Greengro Technologies Expands Its Operations Into Colorado With Its 3rd Vertical Hydrogarden Retail Operation.
About this update from Greengro Technologies, Inc.
[{"type":"text","content":"\n \n \n Greengro Technologies Expands Its Operations Into Colorado With Its 3rd Vertical Hydrogarden Retail Operation\n \n \nGreengro Technologies Expands Its Operations Into Colorado With Its 3rd Vertical Hydrogarden Retail Operation\n \n ANAHEIM, CA--(Marketwired - Jul 31, 2014) - Greengro Technologies (PINKSHEETS: GRNH) announced today that it has entered a contract to acquire a well-established hydroponics retailer in the Denver, Colorado area. Terms of the agreement remain undisclosed at this time, however the acquisition adds more than $500,000 in annual revenue and approximately 400 commercial and retail accounts to the company.\n The deal is expected to close within 30 days, making it the third store to operate under the Vertical Hydrogarden brand name owned by Greengro, and will become a stocking distribution center for Greengro's proprietary Modular rooms and Flux lighting products to be sold throughout Colorado by inside and outside sales teams.\n According James Haas, \"We are tremendously excited about this acquisition. The owners were convinced that Greengro's people, company vision, operational support and diverse product line gives them the edge they need to keep their current customers and capitalize on new ones created by the legalization of legal cannabis in Colorado.\"\n Haas added, \"Feedback from Colorado based cultivators lead us to make this bold move to firmly establish ourselves in Colorado. Greengro's Vertical Hydrogarden stores will give cultivators of all sizes a reliable and consistent vendor they can count on. We have the knowledge and the capital to stock the variety and amount of inventory needed to meet the demands of this exploding market.\n Greengro's well timed move into Colorado will coincide with the launch of the company's new line of advanced greenhouses which are tailored for the special factors that growers must consider when cultivating in Colorado because the terrain is over 5000ft above sea level, and winter weather conditions make it economically challenging. Greengro is completing testing of its design now, and plans to have it available for the fall growing season.\n \"We are excited to be at this stage of growth for the retail arms of our company. We recognize the importance of obtaining and aligning our resources for further growth and we are as prepared as we could be as ...