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Hydroponic Supplier GrowGeneration Buys BWGS Assets

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Hydroponic Supplier GrowGeneration Buys BWGS Assets
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Specialty retailer GrowGeneration Corp (OTC: GRWG) announced Monday that it has bought certain assets of BWGS, LLC., including all of the latter's branded products. 

What Happened

GrowGen operates a chain of specialty hydroponic and organic garden centers for commercial and home growers. The company has 21 locations across the U.S. BWGS is a wholesale distributor of a variety of products, including grow lighting, hydroponics, tools and solutions for pest and atmospheric control.

In addition to buying BWGS's branded products, GrowGen also purchased its entire inventory. 

Why It's Important

CEO Darren Lampert told Benzinga: "This transaction bolsters our ability to supply branded 'house' products to our customers. From trellis netting, to plastic pots, to organic nutrients, GrowGen will now have a complete line of private label products to offer our customers at great prices.

In the near term, the transaction should have a positive impact on margins and profitability, Lampert said. 

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Posted-In: BWGS Cannabis M&A GrowGenerationCannabis M&A News Markets Best of Benzinga

 

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