Scotts Subsidiary Buys Hydroponics Firm
Published on by Water Network Research, Official research team of The Water Network in Business
A subsidiary of Scotts Miracle-Gro has purchased a California hydroponics company that is known in marijuana-cultivation circles
TheScotts Miracle-Gro Co.offshoot that targets young, urban gardeners has acquired a Santa Rosa, California-based hydroponics company popular with marijuana growers.
Hawthorne Gardening Co.,a Scotts subsidiary formed in October, purchased General Hydroponics Inc. and Bio-Organic Solutions Inc.
Terms were not disclosed, but the acquisition should position the company in the growing marijuana market.
Jim Hagedorn, CEO of the $2.8 billion Scotts (NYSE:SMG), said in May that marijuana, which is enjoying increasing acceptance in the U.S., is an opportunity to grow revenue and attract younger customers. He's been talking aboutthe potential of the pot market since 2011.
General Hydroponics is "a major international supplier of liquid nutrientsused to grow food, flowers and indoor marijuana," according to the Santa Rosa Press Democrat . The company was founded 35 years ago by a medical marijuana advocate and now has manufacturing plants in California, West Virginia and France, the newspaper reported, although the founder said growing non-marijuana plants is the biggest market for the company.
High Times magazine said in a story analyzing the history of hydroponics that General Hydroponics' plant food "quickly became the standard for hydroponic growersand their meteoric success spawned many imitators."
Source: BizJournals
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