Scotts Miracle-Gro establishes 80% ownership of home-grow firm

Scotts Miracle-Gro Co. said it has secured an 80% stake in AeroGrow International, which sells home-growing kits for indoor gardeners.

Scotts Miracle-Gro acquired some 21.6 million shares of Colorado-based AeroGrow for $47.8 million, and the deal has further extended the Ohio company’s reach into the marijuana trade.

Scotts has purchased a range of marijuana-related companies, from hydroponic and nutrient firms to lighting, hardware and fertilizer companies.

Scotts first developed the partnership with AeroGrow in 2013 as a foray into the cannabis industry, acquiring a 31% stake in the firm. It had the option to boost that stake.

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Scotts Miracle-Gro establishes 80% ownership of home-grow firm is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs