The Harvest Company, bringing its footprint to 55 locations nationwide.
The Denver-based chain of specialty hydroponic and organic garden centers opted to purchase the northern Californian company, which operates stores in Redding and Trinity County and serves growers based in California s Emerald Triangle, the largest cannabis-producing region in the U.S.
Darren Lampert, CEO of GrowGeneration, emphasized that the Emerald Triangle has tremendous market potential with more than 500 cultivation licenses in Trinity County alone.
He called California Grow Gen s critical market, highlighting that the company is expanding in Reeding as well, through a highly respected and leading hydroponics store such as Harvest Company.
Retailer
Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF) reported single-day record sales of $543,000 on April 20. Meanwhile,
Eaze, California s largest marketplace for legal cannabis delivery, announced a 185% surge in deliveries (compared to any other Tuesday in 2021), with an average basket of $200, up 50% from the same day in 2020.
“Cannabis consumers moved to delivery as their preferred way of shopping last year, so we re not surprised to see such a strong 420 in 2021,” said Ro Choy, CEO of Eaze. “Even as daily life begins to return to normal, consumers are staying with the convenience of delivery. It s the future of this industry.”
Debra Borchardt, CEO of Green Market Report, added, “The April 20 holiday is becoming the largest sales day of the year for the industry. Headset reported logging $60,000 in sales per minute, while Planet 13 said it did over half a million sales on Tuesday. Even Ayr Wellness clocked in an amazing $1.2 million day across its stores.
The deal details weren t disclosed.
The indoor garden supply center in Wayne County was founded in 2011. Its annual revenues amount to roughly $10 million.
The move follows GrowGen s purchase of 55 Hydroponics, a Santa Ana, California-based hydroponic and organic fertilizer store, and Aquarius Hydroponics, which is located in New England.
The acquisition of Downriver Hydro brings the operational footprint of the Denver-based company to 53 stores across 12 states. 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. Darren Lampert, the company s CEO, said Tuesday.
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