GrowGeneration acquires assets of Canopy Crop Management

Date:12-25-2020

GrowGeneration Corp. (NASDAQ: GRWG),  ("GrowGen" or the "Company") the US largest chain of specialty hydroponic and organic  garden centers, recently announced it has acquired Southern California-based Canopy Crop Management and its complete portfolio of products, including the Power SI brand of silicic acid-enriched fertilizers. Established in 2019, Canopy Crop Management is recognized as the industry's leading silicic acid company. Power SI will continue to be sold through Canopy Crop Management to all hydroponic retail stores including Grow Generation's 39 locations.  

"Private label expansion has become a strategic priority for GrowGen, and a key component of our long-term revenue generation plan," said Michael Salaman, GrowGen's President and Co-Founder. "We are proud to bring Canopy Crop Management and its founder Rex Gill under our umbrella. Rex brings his unique technologies and proprietary products to GrowGen and will be instrumental in leading private label product development within the nutrient and additive space."

"I started Canopy Crop Management with the goal of providing the highest-quality formulations, and I'm fortunate to find a partner like GrowGen, one of the most trusted names in hydroponic and organic gardening," said Gill, Canopy Crop Management's CEO. "I look forward to creating new and innovative silicic acid formulas and organic pesticides and fungicides that are much more cost effective than what is currently on the market."

The Power SI acquisition is the Company's second acquisition in Southern California this month and third acquisition in the state since November. Last week, the Company announced its acquisition of Grassroots Hydroponics, a three-store chain of hydroponic garden centers in Anza, Lake Elsinore and Murrieta; and in November, the Company announced it had acquired The GrowBiz, the nation's third-largest chain of hydroponic garden centers, with stores in Northern California and Oregon.

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