Scotts Miracle-Gro acquires the largest US distributor of hydroponic systems
A takeover that's likely to ruffle some feathers. Scotts Miracle-Gro announced has agreed to acquire the largest distributor of hydroponic systems in the United States for $450 million. This acquisition is expected to strengthen the lawn care giant’s position in the cannabis industry.
Sunlight Supply's assets will be integrated into Scotts Miracle-Gro's cannabis division, Hawthorne Gardening, alongside brands such as Gavita (horticultural lighting), General Hydroponics, and Botanicare (nutrients).
Sunlight was itself a supplier of organic nutrients, hydroponic systems and other lighting solutions.
Scotts will benefit from Sunlight's distribution network, which includes more than 1,800 retail locations in the United States. Combined sales for Hawthorne and Sunlight are expected to reach $600 million in 2018.
The acquisition was valued at $450 million, consisting of $425 million in cash and $25 million in stock.
Scotts Miracle-Gro is also the distributor an official at Monsanto's RoundUp. Its appeal to the cannabis industry is therefore being closely scrutinized.
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