Scotts Miracle-Gro Co. spent $136 million to buy a Dutch maker of hydroponics gardening lights.
It’s another big purchase in the industry with close ties to marijuana. Hydroponics, or growing without soil, also is a method to grow plants and vegetables.
The Marysville-based lawn and garden company has targeted pot and grow-your-own plants and vegetables as a major growth opportunity.
CEO Jim Hagedorn acknowledged the queasiness some in the hydroponics business might have about a large corporation becoming a market leader in the once-fractured market.
“Since we’re an outsider I know a lot of people will be watching to see how we behave,” he told analysts Wednesday. “This is a core business for us.”
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It’s another big purchase in the industry with close ties to marijuana. Hydroponics, or growing without soil, also is a method to grow plants and vegetables.
The Marysville-based lawn and garden company has targeted pot and grow-your-own plants and vegetables as a major growth opportunity.
CEO Jim Hagedorn acknowledged the queasiness some in the hydroponics business might have about a large corporation becoming a market leader in the once-fractured market.
“Since we’re an outsider I know a lot of people will be watching to see how we behave,” he told analysts Wednesday. “This is a core business for us.”
Read more
