DENVER, Dec. 6, 2021 /PRNewswire/ - GrowGeneration
Corp. (NASDAQ: GRWG), ("GrowGen" or the "Company") the
nation's largest chain of specialty hydroponic and organic garden
centers, today announced the relocation of its Phoenix, Arizona store. The new 25,000 sq. ft.
Super Hydroponic Garden Center is in the Phoenix Metro area, which is just minutes from
downtown and the airport.
GrowGeneration continues to define the next generation of garden
centers, with the largest selection, best service, and
best-in-class grow professionals delivering solutions for all types
of growers.
Relocating and expanding the store footprint to over 25,000
square feet, this new hydroponic garden center will be the largest
in Arizona. Located in downtown Phoenix, this location features a complete
offering of lights, nutrients, organics, and grow supplies where
growers can conveniently shop and access the largest selection of
hydroponic equipment and supplies in Arizona. Additionally, this location, will
help expand our private label business operating as a distribution
center for our Southwestern and Western region
locations.
GrowGeneration is at the forefront in the development and
support of vertical farming and hydroponic
cultivation. According to Global Markets Insights, the
Vertical Farming Market size surpassed $4.51 billion in 2020 and is poised to grow at a
CAGR of over 23% between 2021 and 2027. Rapid developments in
precision farming technologies, the benefits of vertical farming
compared to conventional farming, increasing demand for sustainable
agricultural ecosystems and mounting demand for food propelled by
the rising global population continue to stimulate market
growth.
Arizona's is on track to sell
well over $1 billion in marijuana
this year and collect more than $150
million in taxes, according to the Arizona
Republic. The pace of Arizona
sales is faster than in Colorado,
which, like Arizona, had an active
medical-marijuana program when recreational sales launched in
2014. Marijuana sales were more than $970 million through September, according to
state revenue figures.
"At GrowGeneration, we continue to be committed to supplying the
Phoenix market with the
best-of-breed hydroponic growing supplies as well as unrivaled
cultivation expertise for the increasing number of growers, from
craft gardeners to large-scale commercial cultivators," said
Darren Lampert, GrowGeneration's
CEO.
For more information about GrowGen, or to locate its stores,
please visit www.growgeneration.com.
About GrowGeneration Corp:
GrowGeneration owns and operates specialty retail hydroponic and
organic gardening stores. Currently, GrowGeneration has 62 stores,
which include 23 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, 1 location in
Massachusetts and 1 location in
New Mexico.
GrowGeneration also operates an online superstore for
cultivators at growgeneration.com and B2B e-commerce platform,
agron.io. GrowGeneration 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 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 opinions only as of the
date of this release. Please keep in mind that the company does not
have an obligation to revise or publicly release the results of any
revision to these forward-looking statements considering 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 made
with the United States Securities and Exchange Commission,
available at: www.sec.gov, and on the company's 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
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SOURCE GrowGeneration