Acquisition Brings Number of GrowGen
Locations Nationwide to 60
DENVER, Aug. 24, 2021 /PRNewswire/ - GrowGeneration Corp.
(NASDAQ: GRWG), ("GrowGen" or the "Company") the nation's largest
chain of specialty hydroponic and organic garden centers, today
announced its acquisition of Commercial Grow Supply, a hydroponic
superstore located in Santa Clarita,
California. Founded in 2011 by Sevan
Derohanian, Commercial Grow Supply is one of the largest
hydroponic suppliers in Los Angeles
County, with annual revenues approaching $10 million. The acquisition brings the number of
GrowGen locations in California,
the country's largest legal cannabis market, to 22, with 10
locations in Southern
California.
"Southern California continues
to be a vital market for GrowGeneration, and we're thrilled to add
Commercial Grow Supply to our growing number of locations in the
Los Angeles region," said
Darren Lampert, GrowGeneration's
CEO. "As the leading hydroponics retailer in Santa Clarita, Los
Angeles County's third largest city, Commercial Grow Supply
boasts a devoted customer base and unmatched cultivation expertise
which will help GrowGen better serve Southern California's growers."
"Over the past decade, we've dedicated ourselves to supplying
Los Angeles County with
best-of-breed hydroponic growing supplies and unrivaled cultivation
expertise. Partnering with GrowGeneration, the nation's leading
hydroponics retailer, empowers us with the resources to continue
serving Southern California's
increasing number of growers, from craft gardeners to large-scale
commercial cultivators," said Sevan
Derohanian, Commercial Grow Supply's founder.
The Commercial Grow Supply acquisition is GrowGen's 14th this
year and follows yet another quarter of record earnings. The
Company raised its 2021 revenue guidance to $455 million-$475
million . GrowGen plans to have over 70 garden center
locations by the end of 2021.
For more information about GrowGen, or to locate its stores,
please visit www.growgeneration.com.
About GrowGeneration Corp.:
GrowGen owns and operates specialty retail hydroponic and
organic gardening centers. Currently, GrowGen has 60 stores, which
include 22 locations in California, 8 locations in Colorado, 7 locations in Michigan, 5 locations in Maine, 5 locations in Oklahoma, 4 locations in Oregon, 3 locations in Washington, 2 locations in Nevada, 1 location in Arizona, 1 location in Rhode Island,1 location
in Florida, and 1 location in
Massachusetts.
GrowGen also operates an online superstore for cultivators at
growgeneration.com and B2B ERP platform, agron.io. GrowGen carries
and sells thousands of products, including organic nutrients and
soils, advanced lighting technology and state of the art hydroponic
equipment to be used indoors and outdoors by commercial and home
growers.
Forward Looking Statements:
This press release may
include predictions, estimates or other information that might be
considered forward-looking within the meaning of applicable
securities laws. While these forward-looking statements represent
our current judgments, they are subject to risks and uncertainties
that could cause actual results to differ materially. You are
cautioned not to place undue reliance on these forward-looking
statements, which reflect our opinions only as of the date of this
release. Please keep in mind that we are not obligating ourselves
to revise or publicly release the results of any revision to these
forward-looking statements in light of new information or future
events. When used herein, words such as "look forward," "believe,"
"continue," "building," or variations of such words and similar
expressions are intended to identify forward-looking statements.
Factors that could cause actual results to differ materially from
those contemplated in any forward-looking statements made by us
herein are often discussed in filings we make with the United
States Securities and Exchange Commission, available at:
www.sec.gov, and on our website, at: www.growgeneration.com.
Investor Contact:
John
Evans
GrowGeneration
john.evans@growgeneration.com
Connect:
Website: www.GrowGeneration.com
Instagram: growgen
Facebook: GrowGenerationCorp
Twitter:@GrowGenCorp
Company Inquiries:
GrowGeneration Corp.
610-216-0057,
michael@growgeneration.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/growgeneration-acquires-los-angeles-countys-commercial-grow-supply-strengthens--foothold-in-southern-california-301361565.html
SOURCE GrowGeneration