Business
GrowGeneration Acquires Los Angeles County's Commercial Grow Supply, Strengthens Foothold in Southern California
Acquisition Brings Number of GrowGen Locations Nationwide to 60 DENVER, Aug. 24, 2021 /PRNewswire/ - GrowGeneration Corp. (NASDAQ: GRWG), ("GrowGen" or the
About this update from Growgeneration Corp.
[{"type":"text","content":" Acquisition Brings Number of GrowGen Locations Nationwide to 60\n DENVER, Aug. 24, 2021 /PRNewswire/ - GrowGeneration Corp. (NASDAQ: GRWG), (\"GrowGen\" or the \"Company\") the nation's largest chain of specialty hydroponic and organic garden centers, today announced its acquisition of Commercial Grow Supply, a hydroponic superstore located in Santa Clarita, California. Founded in 2011 by Sevan Derohanian, Commercial Grow Supply is one of the largest hydroponic suppliers in Los Angeles County, with annual revenues approaching $10 million. The acquisition brings the number of GrowGen locations in California, the country's largest legal cannabis market, to 22, with 10 locations in Southern California.\n\n \n \n \n \n \n \n\n \n\"Southern California continues to be a vital market for GrowGeneration, and we're thrilled to add Commercial Grow Supply to our growing number of locations in the Los Angeles region,\" said Darren Lampert, GrowGeneration's CEO. \"As the leading hydroponics retailer in Santa Clarita, Los Angeles County's third largest city, Commercial Grow Supply boasts a devoted customer base and unmatched cultivation expertise which will help GrowGen better serve Southern California's growers.\" \n\"Over the past decade, we've dedicated ourselves to supplying Los Angeles County with best-of-breed hydroponic growing supplies and unrivaled cultivation expertise. Partnering with GrowGeneration, the nation's leading hydroponics retailer, empowers us with the resources to continue serving Southern California's increasing number of growers, from craft gardeners to large-scale commercial cultivators,\" said Sevan Derohanian, Commercial Grow Supply's founder. \nThe Commercial Grow Supply acquisition is GrowGen's 14th this year and follows yet another quarter of record earnings. The Company raised its 2021 revenue guidance to $455 million-$475 million . GrowGen plans to have over 70 garden center locations by the end of 2021.\nFor more information about GrowGen, or to locate its stores, please visit www.growgeneration.com.\nAbout GrowGeneration Corp.:\nGrowGen owns and operates specialty retail hydroponic and organic gardening centers. Currently, GrowGen has 60 stores, which include 22 locations in California, 8 locations in Colorado, 7 locations in Michigan, 5 locations in Maine, 5 locations in Oklahoma, 4 locations in Oregon, 3 ...