Hydroponic Retailer GrowGeneration Cultivates Success In Alaska With Southside Garden Supply Acquisition

GrowGeneration Corp. GRWG, the largest chain of hydroponic and organic garden centers in the US., has acquired Southside Garden Supply in Alaska.

"As a part of the transaction, GrowGen took over both existing store locations at 2809 Artic Boulevard, Anchorage, Alaska, and 449 West Parks Highway, Wasilla, Alaska," per a release.

This movement marks GrowGen's expansion into its 18th state and its second new state this year, according to Darren Lampert, co-founder and CEO of GrowGen. “This transaction is part of our key initiative to continue making whitespace acquisitions and strategically invest our capital for future growth." 

The acquisition strengthens GrowGen's retail footprint and commitment to providing high-quality products and exceptional service.

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Southside Garden Supply's reputation for quality offerings and customer experience aligns with GrowGen's strategy. “GrowGen remains committed to providing high-quality products and having the largest product selection, best service, and most knowledgeable grow professionals in the industry. This transaction supports those commitments and enhances our overall portfolio of stores to best serve both our commercial and home-grow customers," added Lampert.

The move highlights GrowGen's focus on strategic acquisitions and capital investments for future growth. With 63 stores nationwide, GrowGen solidifies its position as a leader in the industry.

Recently, GrowGeneration reported its financial results for the first quarter ending March 31, posting revenue of $56.8 million. 

Price Action: On Tuesday afternoon, GRWG shares were $3.93 per share, trading at 2.61% higher.

Image by Alexis Mette On Unsplash