Cannabis grow-supply giant buys Michigan garden center chain

What’s the right revenue per square foot? What’s a realistic business outlook for cultivators? Get realistic market forecasts, state by state insights and benchmarks. Preorder the 2023 Factbook. 

GrowGeneration Corp., a Denver-based specialty hydroponic and organic garden center giant, said it is buying HGS Hydro, a chain of hydroponic garden centers with six stores across Michigan and a seventh store slated to open in the fall.

Terms of the deal weren’t disclosed.

The acquisition adds to a string of recent purchases by GrowGeneration, including gardening stores in California and Oregon.

If the HGS Hydro deal goes through, it will bring the total number of GrowGeneration hydroponic garden centers in Michigan to 14 and the total number of stores nationwide to 65, according to a news release.

“Michigan is one of the fastest growing states for medical and recreational cannabis sales,” Darren Lampert, GrowGen’s CEO, said in the release.

“The addition of HGS Hydro will propel Michigan to GrowGen’s second largest state behind California.”