GrowGeneration Acquires The Harvest Company, Expands Footprint in California's Emerald Triangle
GrowGeneration Corp (NASDAQ: GRWG) announced its acquisition of The Harvest Company, a hydroponic supply center in Northern California, expanding its nationwide presence to five locations. The Harvest Company, known for servicing growers in the Emerald Triangle, will bring 16 employees and expertise to GrowGen's team. The acquisition is strategic, targeting the growing cannabis market in California, particularly in Trinity County, which has over 500 cultivation licenses. This move aligns with GrowGen's aim to enhance its service offerings and market reach.
- Acquisition of The Harvest Company strengthens GrowGen's presence in California's cannabis market.
- The deal adds 16 experienced employees to GrowGen's existing team of over 600.
- Expansion into Trinity County, a region with over 500 cannabis cultivation licenses, presents significant market potential.
- None.
Acquisition Brings Number of GrowGen Locations Nationwide to 55
DENVER, May 25, 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 The Harvest Company, a northern California-based hydroponic supply center and cultivation design innovator with stores in Redding and Trinity County. The Harvest Company serves growers in Northern California's Emerald Triangle – the largest cannabis-producing region in the country.
"As the country's largest legal cannabis market, California continues to be a critical market for GrowGeneration," said Darren Lampert, GrowGen's CEO. "The Emerald Triangle in particular represents tremendous market potential, with over 500 cultivation licenses in Trinity County alone. Redding also is seen as an important emerging cannabis market, and we are proud to expand our presence in the area through a highly respected and leading hydroponics store such as Harvest Company. "
Founded by Robert Masterson, Harvest Company has provided Northern California growers with specialty hydroponic supplies and professional horticultural consultation services since 2014. The Harvest Company's team of 16 employees will join GrowGen's team of over 600 grow professionals as part of the transaction, while Mr. Masterson will stay on in an advisory role.
Said Masterson, "The Harvest Company 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."
For more information about GrowGen, or to locate its stores, please visit www.growgeneration.com.
About GrowGeneration Corp:
GrowGen owns and operates specialty retail hydroponic and organic gardening centers. Currently, GrowGen has 55 stores, which include 20 locations in California, 8 locations in Colorado, 7 locations in Michigan, 5 locations in Maine, 5 locations in Oklahoma, 2 locations in Nevada, 2 locations in Washington, 2 locations in Oregon, 1 location in Arizona, 1 location in Rhode Island,1 location in Florida, and 1 location in Massachusetts.
GrowGen also operates an online superstore for cultivators at growgeneration.com and B2B ERP platform, agron.io. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers.
Forward Looking Statements:
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect opinions only as of the date of this release. Please keep in mind that the company does not have an obligation to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as "look forward," "believe," "continue," "building," or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings made with the United States Securities and Exchange Commission, available at: www.sec.gov, and on the company's website, at: www.growgeneration.com.
Company Inquiries:
GrowGeneration Corp.
610-216-0057
michael@growgeneration.com
Investor Contact:
John Evans
GrowGeneration
415-309-0230
john.evans@growgeneration.com
Press Contact:
Sara Geisner
Trailblaze
sara@trailblaze.co
Connect:
Website: www.GrowGeneration.com
Instagram: growgen
Facebook: GrowGenerationCorp
Twitter: @GrowGenCorp
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SOURCE GrowGeneration
FAQ
What is the significance of GrowGeneration's acquisition of The Harvest Company?
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