GrowGeneration Relocates Its Arizona Store Making The Largest Hydroponic Garden Center In The State

GrowGeneration Corp. GRWG confirmed the relocation of its Phoenix, Arizona store on Tuesday. The new 25,000 sq. ft. Super Hydroponic Garden Center is in the Phoenix Metro area, just minutes from downtown and the airport.

As the largest chain of specialty hydroponic and organic garden centers, GrowGeneration highlighted that this new hydroponic garden center will be the largest in Arizona. 

Located in downtown Phoenix, the center provides a complete offering of lights, nutrients, organics and grow supplies where producers can conveniently shop and access the largest selection of hydroponic equipment and supplies in the Grand Canyon State. This location will also help expand the company's private-label business as a distribution center in the Southwestern and Western regions of the country. GrowGeneration is located in Denver, Colorado.

"At GrowGeneration, we continue to be committed to supplying the Phoenix market with the best-of-breed hydroponic growing supplies as well as unrivaled cultivation expertise for the increasing number of growers, from craft gardeners to large-scale commercial cultivators," Darren Lampert, GrowGeneration's CEO stated.

According to Global Markets Insights, the Vertical Farming Market size surpassed $4.51 billion in 2020 and is poised to grow at a CAGR of over 23% between 2021 and 2027.  Rapid developments in precision farming technologies, the benefits of vertical farming compared to conventional farming, increasing demand for sustainable agricultural ecosystems and mounting demand for food propelled by the rising global population continue to stimulate market growth.

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Price Action

Grow Generation’s shares were trading 2.41% higher at $15.73 per share at the time of writing Tuesday morning.

Photo: Courtesy of Richard T on Unsplash