Hydroponics, Inc. Acquires Grow Shop Hydroponics

DESERT HOT SPRINGS, Calif., Oct. 01, 2019 (GLOBE NEWSWIRE) — Hydroponics, Inc., a technology-enabled provider of global agricultural supplies, data and analytics, and procurement for large scale, commercial cannabis farms, today announced the acquisition of Grow Shop Hydroponics. Grow Shop Hydroponics, a cannabis equipment retailer, is based in Desert Hot Springs, a rapidly growing hub for California cultivators. This follows the launch of the Company’s initiative to deploy up to $75 million for strategic acquisitions.

“After retrofitting the Grow Shop retail facility into a distribution center, this acquisition will allow us to better serve our desert-based commercial accounts through rapid delivery times, increased customer service, and materially shorter procurement cycles,” said Ken Alston, CEO of Hydroponics, Inc.

Hydroponics, Inc. has numerous partner-farms in the desert, and Grow Shop Hydroponics is located next door to over one million square feet of canopy.

Alston continued, “This acquisition further demonstrates our commitment to world-class cannabis supply chain best practices. Not only is this transaction immediately accretive for our existing platform and shareholders but it also affords us the opportunity to better serve existing and future cultivators who place a premium on a seamless and economical procurement cycle.”

Hydroponics, Inc. is a 10-year old company with a rich history in the California cannabis industry. Acquired through a sidecar investment firm funded by notable CEOs, entrepreneurs, and family offices, the investment and operating team identified the opportunity to disrupt and professionalize the supply chain utilizing Hydroponics, Inc. as its platform. Since the acquisition, the Company has expanded its geographic footprint into 15 states, Washington, D.C., and Puerto Rico, augmented the management team with procurement and data experts, and developed best-in-class agricultural solutions and analytics for large-scale cultivators.

For more information on Hydroponics or if you are interested in speaking to them about an investment opportunity, please email ma@hydroponicsinc.com.

About Hydroponics Inc.
Hydroponics, Inc.(www.hydroponicsinc.com)  is a leading supplier of agriculture supplies and services specific to the cannabis and hemp industry. The Company helps farmers grow smarter, faster, and more efficiently by providing data and analytics, best-in-class marketplace consulting, and financial solutions. Hydroponics, Inc. decreases supply, logistics, and procurement expenses by 30% or more allowing cultivators to focus on revenue and their brand, saving time, and resources.

Media Contact:
Anne Donohoe
KCSA Strategic Communications
212.896.1265
adonohoe@kcsa.com

IR Press

Share
Published by
IR Press

Recent Posts

Treasury Issues Final Rule Expanding CFIUS Coverage of Real Estate Transactions Around More Than 60 Military Installations

WASHINGTON – Today, the U.S. Department of the Treasury (Treasury), as Chair of the Committee…

4 days ago

U.S. Department of the Treasury’s CDFI Fund and Federal Housing Finance Agency Collaborate to Bolster CDFI Access to Capital

WASHINGTON—Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and…

4 days ago

Report on U.S. Portfolio Holdings of Foreign Securities at Year-End 2023

Washington – The findings from the annual survey of U.S. portfolio holdings of foreign securities…

5 days ago

READOUT: U.S. Department of the Treasury Hosts Roundtable Discussion on the Financial Sector’s Response to Recent Hurricanes

WASHINGTON – The U.S. Department of the Treasury hosted a roundtable on October 30 with…

5 days ago

READOUT: Sixth Meeting of the Financial Working Group Between the United States and the People’s Republic of China

WASHINGTON – The United States and the People’s Republic of China held the sixth meeting…

5 days ago

Treasury Sanctions Key Members of La Linea, a Group Involved in Trafficking Fentanyl into the United States

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned…

5 days ago