GrowGen CEO Comments: "Santa Rosa Hydroponics and Grower Supply marks our 5th acquisition in 2018, adding $25 Million in revenue to our company. Adding SRH, located directly in a strategic location with high visibility in Northern CA., adds one of the largest and highest volume hydroponic stores in the country. SRH has a seasoned team, and we are excited that the founders of SRH, Rick and Jason Barretta will be continuing as VPs of Sales and Business Development for the Northern California region." Further Mr. Lampert stated, "In addition to its store acquisitions, the Company is investing in vertical markets that will offer new technologies and products that bring automation and efficiencies. Through GrowGeneration Management, our newly formed commercial division, GrowGeneration is now able to deliver a full turnkey solution for new license holders and owners who are building new facilities. Our commercial team is comprised of mechanical engineers, grow room designers, and a solid team of dedicated commercial salesmen who are focused on large capital projects. We have a strong balance sheet in excess of $14 million in cash. The company has set revenue guidance at $37 million up from $14.5 million for the trailing 12 months."
Santa Rosa Hydroponics and Grower Supply CEO Comments: "We are excited to be part of the GrowGeneration portfolio of companies. As the largest hydroponic store in Sonoma County, 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 and resources, and a strong financial position."
For more information:
www.GrowGeneration.com