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Hydroponics equipment manufacturer Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM) announced Monday it will buy a producer of quality nutrients, House & Garden, for around $125 million.
The news comes on the heels of Hydrofarms’ recent purchase of another nutrient producer – HEAVY 16. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
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You get to control quality, consistency, nutrient feeds and lighting with indoor cannabis farming.
The farmers can sell their produce to the whole network that feeds into the consumer dispensary.
The company has witnessed broad-based growth across all the states.
Hydrofarm Holdings Group Inc (NASDAQ: HYFM) CEO Bill Toler touted the benefits of indoor cannabis farming, on CNBC.
The company is a leading distributor and manufacturer of controlled environment agriculture equipment and supplies. It supplies its products to the cannabis industry as well.
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The Pennsylvania-headquartered company went public in December 2020 in a $100 million IPO. The shares are up nearly 14% since the IPO and are currently trading at $59, giving the company a valuation of $2.35 billion.