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Cannabis grow-supply firm GrowGeneration acquires coir company

GrowGeneration Corp., a Denver-based cannabis grow-supply firm, has acquired Char Coir, a company that makes coconut-fiber growing substrate.

Terms of the acquisition were not disclosed but GrowGeneration said it anticipated $15 million a year in revenue from sales of the new product.

The grow-supply company is looking to add products to its private-label offerings, according to GrowGeneration CEO Darren Lampert.

GrowGeneration operates 50 grow-supply stores in 12 states and trades on the Nasdaq as GRWG.

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