logo
logo

Growgeneration Acquires Mobile Media Inc. And Mmi Agriculture

Jan 04, 2022•over 3 years ago

Acquiring Company

GrowGeneration

Acquired Company

Mobile Mediaand MMI Agriculture

Location Based ServicesRetailNatural ResourcesNatural Resources

Description

GrowGeneration Corp. (NASDAQ: GRWG) ("GrowGen" or the "Company"), the nation's largest chain of specialty hydroponic and organic garden centers, today announced it has acquired the assets of Mobile Media, Inc and MMI Agriculture (MMI), an Ellenville, NY based mobile shelving manufacturing and warehouse facility. Transaction terms were $9.4 million in cash and stock, inclusive of inventory, fixed assets, and goodwill. MMI generated over $14.0 million in revenue in 2021.

Company Information

Company

GrowGeneration

About

GrowGen owns and operates specialty retail hydroponic and organic gardening centers. Currently, GrowGen has 59 stores across 15 states, which include 22 locations in California, 6 locations in Colorado, 6 locations in Michigan, 5 locations in Maine, 5 locations in Oklahoma, 4 locations in Oregon, 3 locations in Washington, 1 location in Arizona, 1 location in Florida, 1 location in Massachusetts, 1 location in Mississippi, 1 location in Missouri, 1 location in New Mexico, 1 location in Rhode Island, and 1 location in Virginia. GrowGen also operates an online superstore for cultivators at growgeneration.com. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed