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GrowGeneration Acquires Arizona Retailer Hydroponics Depot

TheMotleyFool

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GrowGeneration Acquires Arizona Retailer Hydroponics DepotPhoto, wide shot, wide-angle lens, Clothing manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.midjourneyapi.xyz/temp/7d69264d-49b2-466c-9987-b2706836d522.png

GrowGeneration (NASDAQ: GRWG) is growing the old-fashioned way -- by acquiring a peer company.

That peer is Hydroponics Depot, which the company announced on Monday it has purchased. GrowGeneration characterizes its new asset as the biggest indoor and outdoor garden products retailer in Phoenix. It marks the Colorado-based company's first acquisition in Arizona. GrowGeneration did not specify the price or terms of the deal.

According to the company, Hydroponics Depot has posted year-to-date sales of over $50 million. That represents year-over-year growth exceeding 50%.

Source Fool.com

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