GrowGeneration announced its acquisition of Downriver Hydroponics, a Michigan-based indoor garden supply center in Wayne County. Founded in 2011, Downriver Hydro is the area's largest hydroponics store, with annual revenues approaching $10 million. With the acquisition of Downriver Hydro, GrowGen's portfolio of hydroponic garden centers now includes 53 stores across 12 states, with seven of those locations in Michigan.
"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," said Darren Lampert, GrowGen's CEO. "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, and operate the company's seventh location in the state. GrowGen also operates hydroponic garden centers in Battle Creek, Grand Rapids, Livonia, Taylor, South Lansing and West Lansing.
"Downriver Hydro has proudly served Michigan's indoor growers for over a decade with our exceptional team of cultivation experts, commitment to hydroponics education, and vast inventory of high-quality garden supplies," said 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."
GrowGeneration