Hydrofarm Completes Acquisition of Aurora Innovations and its Organic Nutrients and Grow Media Operations

Rhea-AI Summary

Hydrofarm Holdings Group, Inc. (Nasdaq: HYFM) has successfully completed its acquisition of Aurora Innovations, Inc., Aurora International, Inc., and Gotham Properties LLC, a manufacturer of organic hydroponic products based in Oregon. This acquisition aligns with Hydrofarm's growth strategy to expand its product offerings and enhance its market position in the controlled environment agriculture sector. Notably, this follows Hydrofarm's recent acquisitions of hydroponic nutrient brands, including HEAVY 16 and House & Garden.

Positive

• Acquisition enhances product offerings in organic hydroponic products.
• Strategic move strengthens Hydrofarm's market position in controlled environment agriculture.
• Continued growth strategy evidenced by recent acquisitions.

Negative

• None.

FAIRLESS HILLS, Pa., July 01, 2021 (GLOBE NEWSWIRE) -- Hydrofarm Holdings Group, Inc. (“Hydrofarm”) (Nasdaq: HYFM), a leading distributor and manufacturer of hydroponics equipment and supplies, today announced that it has completed its previously announced acquisition of Aurora Innovations, Inc., Aurora International, Inc., and Gotham Properties LLC , a Eugene, Oregon-based manufacturer and supplier of organic hydroponic products. The announcement follows Hydrofarm’s recent acquisitions of hydroponic nutrient brands HEAVY 16, House & Garden, and Mad Farmer.

About Hydrofarm Holdings Group, Inc.
Hydrofarm is a leading distributor and manufacturer of controlled environment agriculture equipment and supplies, including high-intensity grow lights, climate control solutions, and growing media, as well as a broad portfolio of innovative and proprietary branded products. For more than 40 years, Hydrofarm has helped growers in the U.S. and Canadian markets make growing easier and more productive.  The Company’s mission is to empower growers, farmers and cultivators with products that enable greater quality, efficiency, consistency and speed in their grow projects. For additional information, please visit: www.hydrofarm.com

Investor Relations:
ICR
Fitzhugh Taylor
ir@hydrofarm.com

Media Contacts:
The LAKPR Group
Hannah Arnold, 202-559-9171, harnold@lakpr.com
Lynn Trono, 323-672-8226, ltrono@lakpr.com
-or-
Hydrofarm
Lisa Gallagher, 513-505-2334, lgallagher@hydrofarm.com

 

FAQ

What is the significance of Hydrofarm's acquisition of Aurora Innovations?

The acquisition enhances Hydrofarm's product offerings and strengthens its market position in the hydroponics sector.

When did Hydrofarm complete the acquisition of Aurora Innovations?

Hydrofarm announced the completion of the acquisition on July 1, 2021.

How does the acquisition impact Hydrofarm's future growth?

The acquisition is part of Hydrofarm's strategy to expand its product range, likely contributing to future revenue growth.

What other companies has Hydrofarm acquired recently?

Hydrofarm has recently acquired hydroponic nutrient brands like HEAVY 16 and House & Garden.