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GrowGeneration Expands Reach Through GreenLife Acquisition

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GrowGeneration Expands Reach Through GreenLife Acquisition
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GrowGeneration Corp (OTC: GRWG), a chain of specialty retail hydroponic and organic stores, said it has acquired GreenLife Garden Supply, allowing the company to expand its number of locations. 

The terms of the deal were not disclosed. 

Through the acquisition, GrowGeneration added two locations in Maine and one location in New Hampshire. The company now has five retail and warehouse locations in the New England market, according to Tuesday's press release. 

Overall, GrowGeneration said it has 21 locations serving commercial and household customers across the U.S. 

The acquisition of GreenLife Garden Supply represents GrowGeneration's fifth M&A deal so far this year. The company said the addition adds $7 million to its top line. 

Back in February, the company announced the acquisition of certain assets of BWGS, LLC.

Grow Generation OTC shares were up 1.3 percent at $3.11 at the time of publication Tuesday. 

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Posted-In: GreenLife Garden Supply GrowGeneration hydroponics MaineCannabis M&A News Markets Best of Benzinga

 

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