GrowGeneration purchases all the assets of H2O Hydroponics, LLC

GrowGeneration purchases all the assets of H2O Hydroponics, LLC

The company will open a new location in Lansing, Michigan, which will serve as a retail/commercial operation and fulfillment center.

Subscribe

GrowGeneration Corp., the largest chain of stand-alone specialty hydroponic and organic garden centers, currently with 27 locations, has announced that it has purchased the assets of H2O Hydroponics, LLC ("H2O"), the largest hydroponic garden center in Lansing, Michigan. Following the asset purchase, the company will open a new location in Lansing which will serve as a retail/commercial operation, as well as a fulfillment center, supporting the company's online and direct-to-farm deliveries.

Michigan market:

According to a March 2020 report, "The Market for and Economic Impact of the Adult-use Recreational Marijuana Industry in Michigan" by Michigan State University Product Center Food-Ag-Bio: 

"It is estimated that the level of cannabis retail sales once it becomes widely available is approximately $3 billion with a total economic impact in excess of $7.8 billion. Employment in businesses along the marijuana supply chain is estimated to be 13,500 with a total economic impact on employment in the state of 23,700. Total tax revenue raised is $495.7 million of which $298.6 million is excise taxes and $197.1 million are in the form of sales taxes.

The supply chain for marijuana was also analyzed. It appears that the supply chain is maturing rapidly, with several well-funded vertically integrated firms already operating. Both indoor and outdoor growing operations are in place but over time it appears that much of the production will take place in dedicated indoor growing facilities."

In November 2018, Michigan became the tenth state to legalize cannabis for adults and the first state to do so in the Midwest. Within a residence, adults may grow up to 12 plants and/or possess up to 10 ounces. Medical cannabis is permitted. An individual may register as a medical patient if their doctor certifies that the individual suffers from one or more of the qualifying conditions under the state law. 

GrowGen owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 27 stores, which include five locations in Colorado, five locations in California, two locations in Nevada, one location in Washington, four locations in Michigan, one location in Rhode Island, four locations in Oklahoma, one location in Oregon, three locations in Maine and one location in Florida. GrowGen also operates an online superstore for cultivators, located at www.growgen.pro and www.growgeneration.com.