Hydrofarm Completes Acquisition of Premium Nutrient Producer House and Garden

Rhea-AI Summary

Hydrofarm Holdings Group has successfully completed its acquisition of House & Garden, Inc., Humboldt Wholesale, Inc., Allied Imports & Logistics, Inc., and South Coast Horticultural Supply, Inc. This strategic move enhances Hydrofarm's portfolio in the controlled environment agriculture sector, continuing its recent expansion following the acquisition of HEAVY 16. House & Garden is known for its high-quality nutrients, which will bolster Hydrofarm's offerings. This acquisition is part of Hydrofarm’s ongoing strategy to acquire key manufacturers in the industry.

Positive

• Acquisition of House & Garden strengthens Hydrofarm's product offerings.
• Continues strategic expansion in controlled environment agriculture.
• Enhances market reach and potential revenue growth.

Negative

• None.

FAIRLESS HILLS, Pa., June 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 House & Garden, Inc., Humboldt Wholesale, Inc., Allied Imports & Logistics, Inc., and South Coast Horticultural Supply, Inc. (collectively “House & Garden”), a Humboldt County, Calif.-based producer of quality nutrients under the House & Garden and Mad Farmer brands. The announcement follows Hydrofarm’s recent acquisition of nutrient manufacturer HEAVY 16 and continues Hydrofarm’s strategic efforts to acquire manufacturers of branded products in key CEA product categories.

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 did Hydrofarm Holdings Group announce on June 1, 2021?

Hydrofarm announced the completion of its acquisition of House & Garden and related companies.

What are the brands associated with the acquired companies?

The acquired companies produce quality nutrients under the House & Garden and Mad Farmer brands.

What is the strategic importance of this acquisition for Hydrofarm?

This acquisition enhances Hydrofarm's product portfolio and supports its growth strategy in the controlled environment agriculture sector.

How does this acquisition impact Hydrofarm's market position?

It strengthens Hydrofarm's position by expanding its offerings and market reach.