GrowGeneration continues to grow its empire and increase profit with its latest acquisition.
GrowGeneration Corp. (NASDAQ: GRWG), the nation's largest chain of speciality hydroponic and organic garden centres, today announced its acquisition of Big Green Tomato ("BGT"), a two-store chain in Battle Creek and Taylor, Michigan. Big Green Tomato is one of Michigan's premier hydroponic equipment stores, founded in 2011 by a team of experienced executives with 25 years of combined experience in the industry.
BGT has two well-established locations with strong commercial operations and annual revenues approaching $16M. As part of the transaction, GrowGen purchased the 10,000 square-foot retail property in Battle Creek.
With the BGT acquisition, the Michigan market is expected to generate annual revenues well over $40M for GrowGen. It also brings the total number of GrowGen hydroponic garden centres in Michigan to six, with locations in Battle Creek, Grand Rapids, Livonia, Taylor, South Lansing and West Lansing.
Michigan's recreational cannabis market is growing exponentially Tony Sullivan – GrowGen's COO
Mr Sullivan went on to say "We're encouraged by new state regulations that will allow for more cultivation licenses, which in turn will fuel continued expansion and growth for GrowGeneration's customer base in the state."
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