GrowGeneration gets online foothold by acquiring HeavyGardens.com

The marijuana hydroponics and organic specialty gardening store Grow Generation (OTCMKTS:GRWG) is acquiring HeavyGardens.com, an online seller of hydroponic and grow supplies that generates over 100,000 views per month.

While the financial details of the deal aren’t being shared publicly, HeavyGardens.com is set to add over US$5mln in sales for Denver, Colorado-based GrowGen for the fiscal year ending in 2019.

The takeover will allow GrowGen to ramp up its digital presence and allow HeavyGarden’s customers to interact with GrowGen’s staff of over 100 professional growers and product specialists.

GrowGeneration shares fell by 7.4% to US$3.91 in Monday’s afternoon trading session.

Read: GrowGeneration is fertile ground for investors looking to cultivate their cannabis portfolio without risk

There are also plans already in the works to introduce HeavyGardens in Canada and Mexico. Jeff Callison, the CEO of HeavyGardens will continue to operate its website.

“The acquisition of HeavyGardens adds another sales channel for growers to find and shop with GrowGeneration,” said Darren Lampert, Grow Gen’s CEO and co-founder in a statement.

“HeavyGardens has grown month over month by 10% and since its launch in July of 2017, it has quickly become a leader in the online sales of hydroponic supplies,” he added.

GrowGen now has nineteen stores, with locations spread out across Colorado, California, Las Vegas, Washington, Michigan, Rhode Island and Oklahoma.

GrowGeneration sells thousands of products — from organic nutrients and soils to advanced lighting technology and state of the art hydroponic equipment. 

Story by ProactiveInvestors