Leading specialty retail hydroponic and organic gardening centers operator GrowGeneration Corp. (GRWG) announced that it has signed an asset purchase agreement to acquire HGS Hydro, one of the largest chains of hydroponic garden centers. The terms of the deal have not been disclosed so far. Following the news, shares of the company jumped 5.6% in Wednesday’s trading session. However, it pared its gains by about 1.2% to close at $41.40 in the extended trading session. With this buyout, GrowGeneration will further solidify its position as a leading operator of specialty hydroponic and organic garden centers. Notably, HGS Hydro reported revenues of about $50 million in 2020.
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Growgeneration (NASDAQ:GRWG)
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