Anaheim-based Greengro Technologies Inc. said Tuesday that it has completed its acquisition of Roseville’s Vertical Hydrogarden Inc.
Financial terms were not disclosed, but Greengro said the deal’s finalization sets the stage for retail VHI stores in various locations.
Greengro sells sustainable and space- and energy-efficient cultivation systems worldwide for industrial farming. VHI is a supplier of green agriculture products, including hydroponics, advanced nutrients and vertical cultivation technology systems.
VHI’s wholesale business and a key patent were acquired by Greengro in 2011. In 2012, Greengro signed a sales contract with VHI. It included an option to buy the local company within a year, an option that Greengro announced it had exercised in June 2013.
Greengro said www.verticalhydrogarden.com, operating since 2010, will serve as the primary online platform for all stores launched in the franchise.
“We have worked hard to ensure that all of the pieces were in place to prove the concept of our franchise model for our vertical grow systems and related products. It is only now that we are able to begin in earnest with the launch of our first two stores (in Roseville and Anaheim) under the flagship brand of Vertical Hydrogardens,” said James Haas, CEO of Greengro Technologies.
Call The Bee’s Mark Glover, (916) 321-1184.