Business
GrowGeneration Acquires Washington-Based Hoagtech Hydroponics, Expands Footprint in Pacific Northwest
Acquisition Brings Total Number of GrowGen Locations to 59 DENVER, Aug. 23, 2021 /PRNewswire/ - GrowGeneration Corp. (NASDAQ: GRWG), ("GrowGen" or the
About this update from Growgeneration Corp.
[{"type":"text","content":"\n Acquisition Brings Total Number of GrowGen Locations to 59\n DENVER, Aug. 23, 2021 /PRNewswire/ - GrowGeneration Corp. (NASDAQ: GRWG), (\"GrowGen\" or the \"Company\") the nation's largest chain of specialty hydroponic and organic garden centers, today announced the acquisition of Hoagtech Hydroponics, a leading hydroponic equipment and indoor gardening store, serving the Bellingham, Washington area. This acquisition brings the total number of GrowGen hydroponic garden centers nationwide to 59 stores.\n\n \n \n \n \n \n \n\n \n\"We're thrilled with our acquisition of Hoagtech Hydroponics, which boasts a strong commercial customer base and a talented team of grow professionals,\" said Darren Lampert, GrowGeneration's CEO. \"This transaction expands our footprint in the Pacific Northwest and puts us in close proximity to some of the state's largest commercial operators. Further, Bellingham is located near two major Pacific Northwest cites, Vancouver, British Columbia and Seattle, WA. With the addition of Hoagtech Hydroponics, we expect the Washington market to generate annual revenues approaching $15 million annually.\" \nFounded in 2010, by Dan Hoag, GrowGeneration plans to operate out of Hoagtech's 25,000 square-foot warehouse in Bellingham. As part of the transaction, Hoag and his team of eight cultivation experts will join GrowGeneration. \nThe Hoagtech Hydroponics acquisition is the Company's 13th acquisition this year and follows yet another quarter of record earnings. Earlier this month, the Company raised its full-year 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 GrowGeneration, 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 59 stores, which include 21 locations in California, 8 locations in Colorado, 7 locations in Michigan, 5 locations in Maine, 5 locations in Oklahoma, 4 locations in Oregon, 3 locations in Washington 2 locations in Nevada, 1 location in Arizona, 1 location in Rhode Island,1 location in Florida, and 1 location in Massachusetts. \nGrowGen also operates an online superstore for cultivators at growgeneration.com and B2B ERP platform, agron.io. ...