Denver-based GrowGeneration Corp. has acquired Downriver Hydroponics, an indoor garden supply center in Brownstown Township that will be GrowGen’s seventh location in Michigan. Terms of the transaction were not disclosed.
Downriver Hydro is the area’s largest hydroponics store, according to GrowGen, with annual revenues approaching $10 million. GrowGen also operates hydroponic garden centers in Battle Creek, Grand Rapids, Livonia, Taylor, and two in Lansing.
GrowGen’s portfolio of hydroponic garden centers now includes 53 stores across 12 states.
“Michigan’s cannabis market is expected to generate $3 billion in revenue over the next three years, making it an ideal place for further investment and expansion,” says Darren Lampert, CEO of GrowGen. “We continue to look for best-in-class hydroponics stores in mature and emerging markets, and Downriver Hydro has a strong customer base, as well as an experienced and knowledgeable staff, led by owner Scott Brownlie.”
Brownlie and his team will stay on at GrowGen as part of the transaction.
“Downriver Hydro has proudly served Michigan’s indoor growers for over a decade…,” says Brownlie. “We are excited to join GrowGeneration, the nation’s largest hydroponics retailer, to leverage our combined resources, expertise, and inventory to meet the state’s growing number of cultivators.”