Expands GrowGen's Global Supply Chain and
Private Label Initiatives
DENVER, Jan. 31, 2022 /PRNewswire/ - GrowGeneration Corp.
(NASDAQ: GRWG) ("GrowGen" or the "Company"), the nation's largest
chain of specialty hydroponic and organic garden centers, today
announced the acquisition of Horticultural Rep Group (HRG).
"With this acquisition, GrowGen is strengthening its global
product supply chain and adding significant distribution of its
growing list of private label products," said Michael Salaman, President and co-founder of
GrowGen. "Keith Harrington is one of
the most respected executives and one of the early innovators of
the U.S. modern horticultural market. We are excited that he will
contribute his multi-decade expertise to the GrowGen team."
"I am looking forward to working with GrowGen to build out a
tri-continent supply chain to offer developing markets around the
world a best-of-breed supply of products from Asia, Europe,
and the United States on one
platform." said Keith Harrington,
Founder and President of HRG. "Given the current pace of
consolidation happening in the U.S. market, I chose to partner with
GrowGen because I believe it currently has the best management team
in the industry and the best understanding of the culture of the
market, which is important to me. I am excited to help them grow
that culture and their business at the same time." Mr. Harrington
has been appointed Senior Vice President of Business Development at
GrowGen.
HRG is a specialty marketing and sales organization of
horticultural products based in Ogden,
Utah. HRG represents hundreds of product SKU's for GrowGen
and other companies that are popular brands in the hydroponics
market. In addition, HRG has participated in the sourcing of
products across the horticultural and hydroponics industry. HRG
will continue to supply the 800+ retail customers it currently
services. HRG generated estimated revenue of $10 million in 2021 from sales agent commissions
and distribution activity.
Mr. Harrington has been in the lighting and heavy manufacturing
industry his entire career. He started a horticultural lighting
supply chain in the 1990's and was also the majority owner of one
of the two major hydroponic distributors at that time, Diamond
Garden Supplies. Harrington established manufacturing and product
sourcing offices in Xiamen, China
in 1995, and he developed many of the original sources of product
for the horticultural market coming out of China, many of which are still utilized today.
Over the last 25 years, he has helped to develop, manufacture, and
distribute many of the environmental/lighting controllers and
horticultural lighting fixtures that have been sold in the 52
countries making up the global hydroponic market.
About GrowGeneration Corp:
GrowGeneration owns and operates specialty retail hydroponic and
organic gardening stores. Currently, GrowGeneration has 63 stores,
which include 23 locations in California, 8 locations in Colorado, 7 locations in Michigan, 5 locations in Maine, 6 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. and a leading manufacturer of indoor
vertical racking systems. 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.
Company Inquiries:
GrowGeneration Corp.
John Evans
(415) 309-0230
john.evans@growgeneration.com
IR Contact:
ICR, Inc.
Clay Crumbliss, CFA
Managing Director
(203) 682-8387
clay.crumbliss@icrinc.com
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SOURCE GrowGeneration