Hydrofarm Completes Acquisition of Innovative Growers Equipment, Inc.
Hydrofarm Holdings Group has successfully completed its acquisition of Innovative Growers Equipment, enhancing its portfolio in controlled environment agriculture.
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Rhea-AI Summary
Hydrofarm Holdings Group has successfully completed its acquisition of Innovative Growers Equipment, enhancing its portfolio in controlled environment agriculture. This acquisition includes IGE's horticulture benches, racking, and LED lighting systems, complementing Hydrofarm's product offerings. The move follows Hydrofarm's recent purchase of Greenstar Plant Products, indicating a strategic push to expand market share and product capabilities. With over 40 years of experience, Hydrofarm aims to empower growers with innovative solutions.
Positive
- Acquisition of Innovative Growers Equipment expands product lineup.
- Enhances market presence in controlled environment agriculture.
- Continues strategic growth with recent acquisitions.
Negative
- None.
Details
News Market Reaction – HYFM
The recorded move for HYFM in the trading session of this news was -1.52%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAIRLESS HILLS, Pa., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Hydrofarm Holdings Group, Inc. (“Hydrofarm” or the “Company”) (Nasdaq: HYFM), a leading distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture (“CEA”), today announced that it has completed its previously announced acquisition of Innovative Growers Equipment, Inc. (“IGE”), an Illinois-based manufacturer of horticulture benches, racking and LED lighting systems. The addition of the IGE commercial equipment product range complements Hydrofarm’s existing lineup of high performance, proprietary branded products. The announcement follows the Company’s recent acquisition of Canada’s Greenstar Plant Products, Inc.
About Hydrofarm Holdings Group, Inc.
Hydrofarm is a leading distributor and manufacturer of controlled environment agriculture equipment and supplies, including high-intensity grow lights, climate control solutions, and growing media, as well as a broad portfolio of innovative and proprietary branded products. For more than 40 years, Hydrofarm has helped growers in the U.S. and Canadian markets make growing easier and more productive. The Company’s mission is to empower growers, farmers and cultivators with products that enable greater quality, efficiency, consistency and speed in their grow projects. For additional information, please visit: www.hydrofarm.com
Investor Relations:
ICR
Fitzhugh Taylor
ir@hydrofarm.com
Media Contacts:
Hydrofarm
Lisa Gallagher
513-505-2334
lgallagher@hydrofarm.com
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