Denver-based GrowGeneration, a leader in specialty hydroponic and organic garden centers, today announced the acquisition of HGS Hydro, one of the nation’s leading hydroponic garden center chains.
HGS Hydro is headquartered in Shelby Township, and operates six stores across Michigan, with a new location set to open this fall.
“The combination of HGS Hydro and GrowGeneration will further solidify GrowGen’s leadership position as the nation’s largest chain of hydroponic garden centers. As one of the pioneers of our industry, we are excited to bring our years of experience, insight, and relationships to the GrowGen team to assist in the Company’s continued growth and success,” says Rocky Shaenna, founder and CEO of HGS Hydro.
With approximately $50 million in revenue in 2020, HGS Hydro was the largest hydroponic garden center chain in the state of Michigan. The purchase expands the number of hydroponic garden centers GrowGeneration has in the state to 14, and the total number of stores to 65.
HGS Hydro locations include Shelby Township, Southfield, Sterling Heights, Hazel Park, Walled Lake, and Albion, with Imlay City coming online in the coming months.
“We are excited to add HGS Hydro to our portfolio of stores before year end, with its impressive leadership and commercial teams. The addition of HGS Hydro will propel Michigan to GrowGen’s second largest state behind California. Michigan is one of the fastest growing states for medical and recreational cannabis sales.” says Darren Lampert, CEO of GrowGeneration.
“We look forward to building on HGS Hydro’s experience as we continue to expand our commercial footprint. This acquisition represents our continued focus on purchasing ‘best of breed’ hydroponic operations in the U.S. and strengthening our management team with seasoned veterans from our industry.”