GrowGeneration Acquires Mobile Media Inc. and MMI Agriculture for $9.4M
January 05 2022 - 01:20AM
TipRanks
Specialty retail hydroponic and organic gardening stores operator
GrowGeneration Corp. (NASDAQ:GRWG) recently announced that it has
acquired mobile shelving systems manufacturer Mobile Media, Inc.
and MMI Agriculture for $9.4 million. Following the news, shares of
the company reacted adversely and declined 6.6% on Tuesday. The
stock pared its losses slightly to close at $12.95 in the extended
trading session. Strategic Impact With annual revenues of about $14
million in 2021 and two warehouses spanning an area of about 70,000
sq. ft, the acquisition of MMI will allow GrowGeneration to enhance
its mobile shelving capabilities with MMI, which is one of the
leading manufacturers of such systems.
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Growgeneration (NASDAQ:GRWG)
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