On Nov. 2, GrowGeneration Corp announced the signing of an asset purchase agreement to acquire The GrowBiz, the nation’s third-largest chain of hydroponic garden centers, with five stores across California and Oregon. The transaction is expected to close before fiscal year-end 2020. Founded in 2010 by Ross and Ryan Haley, The GrowBiz comes with a team of experienced executives and more than 60 full and part-time employees. Prior to founding The GrowBiz, Ross Haley served as CEO of Hawthorne Gardening Company, a division of Scotts Miracle-Gro, and General Hydroponics, two recognized leaders in the hydroponics industry. Upon close, Ross Haley will become a senior strategic advisor to the Company.
The addition of The GrowBiz is expected to generate annual revenues approaching $50M. The acquisition also brings the total number of GrowGen hydroponic garden centers in California to ten and Oregon to two. The new GrowGen locations include Rocklin, Cotati, Santa Cruz and San Luis Obispo, California and Portland, Oregon.
For more information about GrowGeneration, or to locate its stores, please visit www.growgeneration.com.