St. Louis Hydroponic Company, one of the top hydroponic retail stores in St. Louis, Missouri, has been acquired by GrowGeneration Corp. (NASDAQ: GRWG), a chain of specialist hydroponic and organic garden centers in the United States.
This store purchase expands the company’s strategic retail network and marks entry into a significant and expanding market, where voters on Tuesday approved adult-use ballot initiatives. On Monday, November 7, 2022, the store started operating under the GrowGeneration banner. The Missouri market is currently positioned for growth with over 200,000 medical patients, 144 new micro licenses, and home growing.
“We are incredibly excited to establish a retail presence in Missouri just in time to help build out the adult-use market, and we couldn’t have found a better partner to do it with than the St. Louis Hydroponic team,” said Darren Lampert, Co-Founder and Chief Executive Officer of GrowGen commenting on the acquisition. Mr. Lampert continued, “Especially now, following voters’ resounding approval of adult-use sales, we expect tremendous success in St. Louis and the broader Missouri market by continuing to build upon the relationships and expertise of more than 40 combined years of industry experience among the St. Louis Hydroponic Company team.”
Corey Christanell, Co-Owner of St. Louis Hydroponic Company, said, “The timing for this partnership couldn’t have been better with the positive results at the polls yesterday.” John Curtis, Co-Owner of St. Louis Hydroponic Company, continued, saying “Our business has always been about our people, both customers and employees. The GrowGen team clearly shares those same values, and Corey and I are excited to partner with GrowGen to continue to deliver excellent products and service to our customers.”