GrowGen Acquires San Diego Hydroponics
GrowGeneration Corp., a chain of specialty hydroponic and organic garden centers, recently acquired San Diego Hydroponics & Organics, a four-store chain of organic, hydroponic and aquaponics garden centers in San Diego. San Diego Hydroponics & Organics has annual revenues approaching $10 million.
This acquisition brings the total number of GrowGen hydroponic garden centers to 50 stores. GrowGen now has 17 California stores, with eight of those stores located in Southern California, a priority market for GrowGeneration.
The San Diego Hydroponics & Organics acquisition is GrowGen’s fourth this year and follows yet another quarter of record earnings. Just last month, the company pre-announced fourth-quarter revenues of $61.5 million, bringing full-year 2020 revenue to $192 million, up 140 percent from 2019. Same-store sales increased 63 percent for full-year 2020, compared to the previous year. GrowGen plans to have 55 garden center locations by the end of 2021.