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Cannabis cultivation company GrowGeneration expands OR footprint

GrowGeneration Corp., one of the largest and fastest-growing cannabis-focused hydroponic and gardening chains in the nation, acquired Aqua Serene, a hydroponic garden center with two stores in southern Oregon. Terms of the deal were not disclosed, but Aqua Serene’s two stores in Ashland and Eugene generate more than $14 million in revenue annually, GrowGeneration said […]

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Ex-Home Depot CEO joins cannabis grow-supply firm GrowGeneration

Bob Nardelli, who doubled the size of Home Depot while the company’s CEO from 2000 to 2007, will serve as a strategic adviser to GrowGeneration Corp., the Denver-based cannabis cultivation company announced Wednesday. The move by Nardelli, who also was chair and CEO of Chrysler for two years, is another example of a mainstream business leader […]

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GrowGeneration raises $10 million to bankroll cannabis-related acquisitions

GrowGeneration, a multistate operator of retail hydroponic and organic gardening stores serving marijuana growers, said it raised $10 million that it will use to purchase more businesses. The Denver company said in a news release it has more than $17 million in cash on its balance sheet and that it plans to “execute on multiple […]

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Cannabis grow-equipment company GrowGeneration raises $9 million

GrowGeneration, a multistate operator of retail hydroponic and organic gardening stores serving marijuana growers, said it raised $9 million through the offering of convertible notes. The Denver company said in a news release filed with the Securities and Exchange Commission that it plans to use the proceeds to expands its operations. CEO Darren Lampert said […]

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Cannabis cultivation giant buys second garden center this week

Barely 48 hours after acquiring a hydroponic and gardening business in Oregon, cannabis cultivation company GrowGeneration Corp. said it is buying Mendocino Greenhouse and Garden Supply, a hydroponic and gardening store in Northern California. Terms of the deal were not disclosed. Denver-based GrowGeneration, which owns 58 hydroponic and organic garden centers across the U.S., said in […]

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More multistate operators target Florida cannabis market

Discounts lead to market-share shift in Florida Florida, one of the most valuable cannabis markets in the world, is beginning to see competition among the top players – and the state’s patients are reaping the benefits of the undercutting. Despite the attractive structure of Florida’s limited licensed medical program, described recently in MJBizFinance, few operators […]

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US cannabis sales off to strong start in 2021

Cannabis sales in 2021 were expected to be muted, relative to sales in 2020, but instead, transaction volume from new consumers supported unexpectedly high growth rates early this year. Last year, the cannabis industry experienced multiple unique sales accelerators, and those catalysts have carried into 2021. 2020 started with Illinois and Massachusetts, ranked Nos. 5 […]

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SPACs pump hundreds of millions of dollars into US cannabis industry through acquisitions

Two cannabis special purpose acquisition companies (SPACs), Silver Spike Acquisition Corp. and Subversive Capital Acquisition Corp., recently announced deals worth more than $2 billion, while two other SPACs have an additional $280 million that must be deployed in the next year. Once the Silver Spike and Subversive deals close in the first half of 2021, […]

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Cannabis grow firm seeks to raise $125 million in stock offering

GrowGeneration Corp., a cannabis cultivation company that owns a chain of hydroponic garden centers, intends to raise an additional $125 million through a secondary stock offering to fuel expansion, according to a filing with the U.S. Securities and Exchange Commission. Denver-based GrowGeneration on Monday said in a prospectus that it now has 36 stores in […]

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