GrowGeneration Acquires Peer San Diego Hydroponics & Organics
Ever eager to grow its footprint, GrowGeneration (NASDAQ: GRWG) has made a fresh acquisition in California. The hydroponics retailer announced Tuesday that it is acquiring its peer San Diego Hydroponics & Organics, a four-store chain located in the eponymous Southern California county.
Neither the price nor the terms of the deal were disclosed. GrowGeneration did say that its new asset produces revenue "approaching" $10 million (presumably, that's an annual figure).
"As the leading hydroponics supplier, San Diego Hydroponics & Organics strategically positions GrowGen to conveniently provide our services to commercial growers in the Southern California market," the company quoted its CEO Darren Lampert as saying.
Source Fool.com
