NEWS BRIEF

Hawthorne reaches deal to acquire cannabis firm HydroLogic

Hawthorne Gardening Co., which is increasingly making inroads in the cannabis cultivation-supply sector, said it entered an agreement to acquire HydroLogic Purification Systems, a California-headquartered provider of water filtration systems for cannabis growers.

According to a news release, the two companies are aiming to have the acquisition completed by Aug. 27, after which New York-based Hawthorne will be the exclusive provider of HydroLogic products.

Terms of the deal were not disclosed, but a Hawthorne spokesperson told MJBizDaily that the company expects HydroLogic to add $20 million in annual sales to its revenue streams.

Hawthorne is a division of Ohio-based Scotts Miracle-Gro, which has been steadily expanding its cannabis industry footprint its traditional agricultural roots.

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