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Creates Hydroponic Supply Operations in Excess of $10 Million in Denver, Colorado
DENVER, CO, Jan. 22, 2019 /CNW/ – GrowGeneration Corp. (OTCQX: GRWG) (“GrowGen” or the “Company”), one of the largest chains of specialty hydroponic and organic garden centers, with 20 locations serving both commercial and home growers, today announced that it has purchased all the assets of Chlorophyll, Inc. (“Chlorophyll”). Located in Denver, CO, this super store, with over 20,000 sq. ft. of warehouse and retail space, will be the 6th store in the GrowGeneration portfolio of stores in Colorado.
GrowGen CEO Comments:
“This transaction marks our 1st acquisition in 2019, adding $8 Million in revenue to our Company. Adding Chlorophyll, located directly in a strategic location with high visibility in Denver, CO., adds one of the largest and highest volume hydroponic stores in the country. Chlorophyll has a seasoned team, and we are excited that the founders, Beau Speicher and Lee McCall will continue to support the company in a sales and business development role.”
Chlorophyll CEO Comments:
“We are excited to be part of the GrowGeneration portfolio of companies. As the largest hydroponic store in Denver, CO, our customers will benefit with more product offerings, competitive pricing and expanded professional services. We were attracted to GrowGeneration’s model and track record of building a national chain of stores, applying a professional management team, with a strong financial position.”