GrowGeneration Buys Agron.io On Heels Of Char Coir, Plans Portal For Cannabis Cultivators

GrowGeneration Corp. GRWG confirmed Monday its eighth acquisition in 2021.

The company bought wholesale agriculture platform Argon.io for an undisclosed price. Argon.io utilizes proprietary business enterprise resource planning (ERP) technology, providing “commercial pricing, real-time inventory” and a diversified catalog, featuring more than 10,000 products across 60 categories.

Among its products are greenhouses, controlled environmental systems, HVAC, and industrial gear.

The platform enables both shopping and logistics management for commercial cultivators, and the company also offers various administrative services like online purchasing history and order tracking.

Denver-based Agron.io is projected to add $20 million to GrowGen’s revenue in 2021.

"As additional legal cannabis markets continue to open up across the country, we are expanding and enhancing our commercial services, from facility design and consulting to volume product pricing, to deliver best-in-class support for large growers," GrowGen CEO Darren Lampert stated. "The Agron.io platform is a strategic and exciting addition to our portfolio and comes with a highly skilled team of customer service experts trained to help growers navigate the complexities of planning, growing and sustaining a commercial agriculture facility."

With this addition of Agron.io Powered by GrowGen, the company will still run its e-commerce platform for retail and craft cannabis and organic produce cultivators, and will continue to offer a “one-stop destination” for its customers across the country.

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"We developed Agron.io to provide next-level support for commercial growers, whose orders are extremely time-sensitive," said Agron.io CEO John Dreibelbis said. "By joining forces with GrowGen, we can reach even more commercial growers with enhanced services, competitive pricing and drop-shipping from the nearest GrowGen distribution center."

Tony Sullivan, GrowGen's COO explained that this purchase depicts the company’s “customer-first approach.”

Earlier Acquisitions

Just last week GrowGeneration made three acquisitions – on Monday it bought Char Coir, on Tuesday it purchased 55 Hydroponics, and on Wednesday it reached Massachusetts with the acquisition of Aquarius Hydroponics.

In March, the company also signed two leases in Los Angeles for a new Super Hydroponic Garden Centers, while in February, it bought San Diego Hydroponics & Organics, acquired Grow-Depot, and Grow Warehouse.

First acquisition this year, GrowGen made in January, when it has acquired Indoor Garden & Lighting.

What’s more, the company pre-announced Q4 record revenue of $61.5 million. It has also raised its 2021 revenue and adjusted EBITDA guidance to $335 million-$350 million and to $38 million-$40 million, respectively.