GrowGeneration Acquires Cell Media Inc. and MMI Agriculture


Expands Essential Solutions to the Vertical Farming Marketplace

Denver, Colo., Jan. 4, 2022 /PRNewswire/ – GrowGeneration Corp. (NASDAQ: GRWG) (“GrowGen” or the “Business”), the nation’s major chain of specialty hydroponic and natural and organic garden facilities, these days introduced it has obtained the assets of Cellular Media, Inc and MMI Agriculture (MMI), an Ellenville, NY based mostly cellular shelving manufacturing and warehouse facility. Transaction terms were being $9.4 million in cash and inventory, inclusive of inventory, fixed property, and goodwill. MMI created around $14. million in profits in 2021.

VERTICAL (CNW Group/GrowGeneration)

VERTICAL (CNW Team/GrowGeneration)

VERTICAL 2 (CNW Group/GrowGeneration)

VERTICAL 2 (CNW Team/GrowGeneration)

MMI has lengthy been a reliable maker of high-density cell shelving units, commonly referred to as “benching,” to a variety of industries such as agriculture, retail, business, and governing administration, providing a total turnkey resolution, specializing in style, customized production, shelving techniques, and installation across the United States. Higher-density mobile units have come to be a critical portion of agriculture mature services by escalating total cover space both equally vertically and throughout the floor by sustaining one particular moveable aisle in every improve process. MMI has received substantial traction in the agriculture sector by innovating a tiered decking method integrated in just the cell procedure, enabling growers to reach quite a few vertical tiers whilst keeping overall method operation. MMI occupies two warehouses totaling over 70,000 sq. ft. and will carry on to deliver goods in its manufacturing facility in NY.

In excess of the a long time, a increasing awareness of the gains of indoor vertical gardening has authorized the vertical farming market place to get considerable momentum. Mainly because vertical farming is not weather conditions dependent, it will allow farmers to obtain a consistent annual crop generation, with improved yields utilizing noticeably fewer drinking water and a significantly scaled-down footprint, with no obtaining to fear about adverse climate ailments, when compared to outdoor standard farming.

“Indoor vertical farming options has become a strategic precedence for GrowGen, and a essential component of our lengthy-term earnings generation program. Lights and benching are the initially two key elements of a improve facility. Combining the adoption of our Ion LED light-weight and price savings obtained by means of indoor vertical cultivation applying MMI’s vertical benching units is an significant part of GrowGen’s worth proposition. Alongside one another, GrowGen and MMI enhance chances for growers by featuring not just GrowGen’s strong collection of hydroponic options and products, but also a cell system to make use of these goods,” claimed Michael Salaman, GrowGen’s President, and Co-Founder. “This important strategic acquisition is in particular vital, as we extend in recently legalizing East Coastline states like New York, New Jersey, Pennsylvania, and the New England states Maine, Massachusetts, Connecticut, and Vermont, where by indoor vertical growing will be the process of developing. MMI gives a fantastic program and remedy that is accompanied by an sector finest guarantee. We are proud to provide MMI and its group under our umbrella. Every little bit of cover develop house is significant to any improve facility. Becoming equipped to design and deliver a space preserving cellular system, then execute the design and style by introducing in irrigation, drainage, air move, lighting, and automation options, gives us a stronger presence in modern market place. GrowGeneration is a real one-end turnkey outfitting option for cultivators everywhere.”

MMI’s higher-density mobile carriages aid growers improve yields up to 200% far more per harvest by getting more obtainable canopy room. MMI’s experienced drafters are effectively-versed in producing ground options and custom-made drawings that optimize capability making use of the hottest CAD software package to build programs that satisfy every client’s unique desires and figure out closing capacity. In addition, MMI’s expert nationwide set up crew to makes sure that each and every method is set up and jogging the right way.

“I started out MMI, 35 decades in the past, with the intention of furnishing the best-high quality vertical racking systems and I’m privileged to come across a lover like GrowGen, 1 of the most trustworthy names in hydroponic and organic and natural gardening,” said Lance Pennington, founder of MMI. “GrowGen’s management placement in selling products and solutions into the indoor vertical farming business mixed with MMI’s indoor vertical racking systems now features our clients a one cease answer for all their indoor cultivation items makes this the perfect partnership.”

About GrowGeneration Corp.:

GrowGeneration owns and operates specialty retail hydroponic and natural and organic gardening shops. Now, GrowGeneration has 62 shops, which include things like 23 places in California, 8 areas in Colorado, 7 destinations in Michigan, 5 spots in Maine, 5 locations in Oklahoma, 4 destinations in Oregon, 3 locations in Washington, 2 areas in Nevada, 1 place in Arizona, 1 location in Rhode Island,1 spot in Florida, 1 locale in Massachusetts and 1 area in New Mexico.

GrowGeneration also operates an on line superstore for cultivators at growgeneration.com and B2B e-commerce platform, agron.io. GrowGeneration carries and sells countless numbers of solutions, together with organic vitamins and minerals and soils, state-of-the-art lights engineering and point out of the art hydroponic gear to be employed indoors and outside by business and residence growers.

For far more information about GrowGeneration, or to track down its merchants, check out www.growgeneration.com.

About Cell Media Inc. and MMI Agriculture:

MMI, launched in 1986, serves a selection of markets with a cell system custom made created for facilities and stockrooms of any sizing. Just about every customer gets a design that achieves highest storage capacity, saved place, and compliance with all egress, seismic, and making codes remaining achieved. MMI manufactures and warehouses in Ellenville, NY striving to offer all purchasers effective mobile shelving systems with extraordinary consumer support and assist MMI Agriculture is an business-main company of vertical farming and space optimization options. We work with commercial agriculture pros to style, put in, and improve operational areas all over cultivation, put up-harvest, production, and distribution amenities by means of the implementation of the vertical and cellular rack, cart, and air flow programs. The MMI crew has in excess of 35 several years of professional cell storage knowledge operational experience.

Ahead Wanting Statements:

This push release may well contain predictions, estimates or other information and facts that may possibly be considered forward-looking inside the which means of applicable securities guidelines. Although these ahead-wanting statements depict our present judgments, they are matter to risks and uncertainties that could cause genuine benefits to vary materially. You are cautioned not to location undue reliance on these forward-on the lookout statements, which reflect our views only as of the date of this release. Be sure to preserve in mind that we are not obligating ourselves to revise or publicly release the success of any revision to these forward-wanting statements in mild of new information and facts or long run occasions. When made use of herein, text these as “glance ahead,” “think,” “go on,” “building,” or versions of these types of terms and equivalent expressions are intended to establish ahead-wanting statements. Components that could bring about actual success to vary materially from these contemplated in any ahead-looking statements built by us herein are often talked about in filings we make with the United States

Securities and Trade Commission, available at: www.sec.gov, and on our internet site, at: www.growgeneration.com.

Hook up:

Company Inquiries:
GrowGeneration Corp.
610-216-0057
michael@growgeneration.com

Investor Call:
John Evans
GrowGeneration
john.evans@growgeneration.com
415-309-0230

GrowGeneration Acquires Mobile Media Inc. and MMI Agriculture (CNW Group/GrowGeneration)

GrowGeneration Acquires Mobile Media Inc. and MMI Agriculture (CNW Group/GrowGeneration)

Cision

Cision

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