Market Overview

FoxFarm Soil & Fertilizer Company and Hydrofarm Announce Expanded Distribution Partnership for North America

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FoxFarm Soil & Fertilizer Company, one of the largest brands of growing
media and nutrients in the indoor gardening market, and Hydrofarm, LLC,
the leading independent wholesaler and manufacturer of hydroponics
equipment and horticultural products—two of the indoor growing
industries' most popular and oldest suppliers, will continue to expand
their longtime strategic partnership in servicing the independent
marketplace. In addition, FoxFarm's expansion into the Canadian market
along with Hydrofarm's previously announced acquisitions of Eddi's
Wholesale Garden Supply and the distribution division of Greenstar Plant
Products, will ensure availability of FoxFarm products throughout North
America.

"Our industry has seen unprecedented changes over the last several
years. Consolidation through mergers and acquisitions of many long
standing manufacturers and distributors has necessitated FoxFarm to make
the strategic decision to focus on serving independently owned
distribution companies and retailers alike. We believe it's critical for
growers to have product optionality to successfully run their business
and to maximize their harvest. We are pleased to continue our strategic
partnership with Hydrofarm to further grow our business and to continue
to provide growers with the finest quality garden products available
anywhere," stated Willy Winer, CEO and President of FoxFarm.

According to Cowen Group research, the U.S. cannabis market is expected
to generate $75 billion in sales by 2030, creating significant long-term
demand for hydroponics equipment and horticultural products as indoor
cannabis cultivation continues to become increasingly precise and
scientifically-driven.

"We believe that much of the growth of hydroponics and the indoor
growing industry will be driven by the increased legalization of medical
and recreational cannabis markets in North America. With nearly twenty
years of shared history, Hydrofarm is proud to take the lead role in
advancing FoxFarm's strategy to provide their products across the
hydroponic retail and expanding commercial grow segment. We are
increasing FoxFarm product availability and support to ensure that their
wide array of growing products are front and center for our customers
across the continent," said Hydrofarm CEO Peter Wardenburg.

For access to FoxFarm's full line of products please go to Hydrofarm.com
or HydrofarmCommercial.com.

About Hydrofarm LLC

Hydrofarm is independently owned and is one of the nation's leading
wholesalers and manufacturers of hydroponics equipment and commercial
horticultural products, including high-intensity grow lights, climate
control solutions, and growing media. With an emphasis on excellent
customer service, Hydrofarm has ten distribution centers across North
America to best serve the growing needs of their customers. For more
information please visit Hydrofarm.com.

About FoxFarm

FoxFarm was born in Humboldt County and inspired by the rich forests of
Northern California. We continue to be driven by the same goals and
visions that FoxFarm was founded on. Quality product and customer
service is our number one priority and after 36 years we are still
independently owned and operated. The free thinking spirit that inspired
FoxFarm is still a part everything we do. FoxFarm products are designed
to replenish the soil, lift the human spirit and beautify the earth
naturally. We will continue to "Bring your plants to life by combining
the best of technology with the goodness of nature." For more
information please visit FoxFarmFertilizer.com.

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