Welcome to our dedicated page for Growgeneration news (Ticker: GRWG), a resource for investors and traders seeking the latest updates and insights on Growgeneration stock.
GrowGeneration Corp. (symbol: GRWG) is a leading company in the United States that owns and operates retail hydroponic and organic gardening stores. The company specializes in the marketing and distribution of a wide range of horticultural, organic, lighting, and hydroponic products. These include lighting fixtures, nutrients, seeds, growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.
Founded with a vision to support commercial and urban cultivators, GrowGeneration has established itself as a go-to resource for those growing specialty crops, including organics, greens, and plant-based medicines. As of March 27, 2020, the company operated 27 retail and commercial hydroponic/gardening centers, spanning multiple states such as Colorado, California, Michigan, Nevada, Washington, Oregon, Oklahoma, Rhode Island, Maine, and Florida.
In addition to its brick-and-mortar locations, GrowGeneration also operates an e-commerce store, growgen.pro, which offers an extensive selection of products to meet the needs of growers nationwide. The company caters to a diverse customer base, from hobbyist gardeners to large-scale commercial operations.
GrowGeneration Corp. is divided into two primary segments. The Cultivation and Gardening segment focuses on the core business of hydroponic and organic gardening products, while the Storage Solutions segment provides benching, racking, and storage solutions, ensuring efficient space utilization for growers.
With a commitment to innovation and quality, GrowGeneration continues to expand its footprint and enhance its product offerings. The company has formed strategic partnerships and continually invests in new technologies to better serve its customers. These efforts have positioned GrowGeneration as an industry leader in the fast-growing market for hydroponic and organic gardening supplies.
Financially, the company has shown robust growth, leveraging its extensive network of retail and online platforms to drive sales and profitability. Recent achievements include the expansion of its retail locations and the introduction of new product lines that cater to the evolving needs of modern cultivators.
Stay updated with the latest news and developments from GrowGeneration Corp. as the company continues to innovate and lead the way in hydroponic and organic gardening solutions.
GrowGeneration Corp (NASDAQ: GRWG), the leading chain of hydroponic and organic garden centers, has acquired Grow Depot, a two-store chain in Auburn and Augusta, Maine. This acquisition expands GrowGen's presence in Maine to five locations, expected to generate over $20 million in annual revenues for 2021. The company reported record fourth-quarter revenues of $61.5 million, with a full-year revenue of $192 million, up 140% from 2019. GrowGen raised its 2021 revenue guidance to between $335 million and $350 million, aiming for 55 garden centers by year-end.
GrowGeneration Corp (NASDAQ: GRWG) has acquired Indoor Garden & Lighting, a two-store chain in the Seattle and Tacoma area, expanding its total number of locations to 40. The acquisition is expected to generate annual revenues of $10 million, strengthening GrowGen's presence in Washington's growing adult-use market. Following a record fourth-quarter revenue of $61.5 million and a full-year revenue of $192 million, up 140% from 2019, GrowGen has raised its 2021 revenue guidance to between $335 million and $350 million.
GrowGeneration Corp. (NASDAQ: GRWG) reported remarkable preliminary full-year 2020 revenues of $192 million, marking a 140% increase from $80 million in 2019. Fourth-quarter revenue also soared by 142% to $61.5 million. With same-store sales up 63% for the year, the company has raised its 2021 revenue guidance to a range of $335 million to $350 million and adjusted EBITDA guidance to $38 million to $40 million. GrowGeneration aims to expand its operating garden centers to 55 in 2021.
GrowGeneration Corp. (NASDAQ: GRWG), the largest chain of specialty hydroponic and organic garden centers, announced participation in the Virtual ICR Conference 2021, scheduled from January 11-14, 2021. CEO Darren Lampert is set to present on January 12 at 11:30 am EST. The conference will also include 1-on-1 meetings with investors. Currently, GrowGen operates 39 stores across multiple states and aims to expand its brand presence. The global hydroponics system market is projected to reach approximately $16 billion by 2025.
GrowGeneration Corp. (NASDAQ: GRWG) has acquired Canopy Crop Management, a leader in silicic acid fertilizers, enhancing its portfolio of private label products. This strategic acquisition aims to boost long-term revenue through innovative formulations and cost-effective organic solutions. The Power SI brand will continue to be offered via Canopy's retail channels, including GrowGeneration's 39 locations. This acquisition marks GrowGen's second in Southern California within a month, following the purchase of Grassroots Hydroponics. The company recently raised $172.5 million to support its growth in the cannabis market.
GrowGeneration Corp (NASDAQ: GRWG) has announced the acquisition of Grassroots Hydroponics, adding three retail locations in Southern California. This expansion increases GrowGen's footprint to 13 stores in California and 39 across the U.S. Grassroots, with annual revenues nearing $20 million, strengthens GrowGen's market presence in a critical region. This acquisition marks GrowGen's seventh for the year and follows record earnings, including Q3 revenues of $55 million and an adjusted EBITDA of $6.6 million. The company has adjusted its revenue guidance for 2021 to between $280 million and $300 million.
GrowGeneration Corp (NASDAQ: GRWG) has completed an upsized public offering of 5,750,000 shares at $30.00 each, raising approximately $172.5 million. This includes the underwriters' option for an additional 750,000 shares. The funds will primarily support the expansion of its hydroponic and organic gardening centers, as well as general corporate purposes. Currently operating 36 locations, GrowGeneration aims for growth through acquisitions and organic development within the hydroponics market, which is projected to reach $16 billion by 2025.
GrowGeneration Corp. (NASDAQ: GRWG) announced the pricing of its underwritten public offering of 5,000,000 shares at $30.00 per share, raising approximately $150 million in gross proceeds. This upsized offering, initially set for $125 million, is expected to close around December 11, 2020. The proceeds will primarily fund the expansion of hydroponic/garden centers and strategic opportunities. Underwriters include Oppenheimer & Co. and Stifel, with an option for an additional 750,000 shares. The offering is filed under an automatic shelf registration statement with the SEC.
GrowGeneration Corp. (NASDAQ: GRWG) announced a proposed follow-on public offering aiming to raise $125 million. The offering will include a 30-day option for underwriters to purchase an additional 15% of the shares offered. Oppenheimer & Co. and Stifel are the joint book-running managers for this offering. This follows an automatic "shelf" registration statement previously filed with the SEC, allowing for the issuance of securities through a prospectus. The use of funds is not detailed in the press release.
GrowGeneration Corp (NASDAQ: GRWG) has completed its acquisition of The GrowBiz, expanding its total store count to 36. The GrowBiz, the third-largest hydroponic garden center chain, contributes nearly $50M in annual revenue and adds locations in California and Oregon. The company reported record earnings last week with third-quarter revenues of $55.0 million and adjusted EBITDA of $6.6 million. GrowGen expects to increase revenues to $280 million-$300 million in 2021, fueled by the cannabis industry's growth and expansion plans.
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