GrowGeneration Acquires Aquarius Hydroponics, Marking Entry Into Massachusetts Market
GrowGeneration (NASDAQ: GRWG), a hydroponics retailer determined to bulk up through asset buys, has announced its latest acquisition. The company announced Wednesday that it has purchased Massachusetts-based Aquarius Hydroponics, giving it an anchor in a state with a young but thriving recreational marijuana market.
As has been its habit, GrowGeneration divulged neither the terms nor the price of the deal. It's likely that the cost was not immense, as Aquarius Hydroponics has only a single 14,600-square-foot store, located in the town of Agawam near the city of Springfield in the western part of the state. That store sells both indoor and outdoor growing equipment, and according to GrowGeneration draws nearly $5 million in annual revenue.
Image source: Getty Images.
Source Fool.com
