Hydrofarm Completes Acquisition of Premium Nutrient Maker HEAVY 16
05 May 2021 - 6:05AM
Hydrofarm Holdings Group, Inc. (“Hydrofarm”) (Nasdaq: HYFM), a
leading distributor and manufacturer of hydroponics equipment and
supplies, today announced that it has completed its previously
announced acquisition of Field 16, LLC, the manufacturer and
distributor of HEAVY 16, a line of premium plant nutrients
(collectively “HEAVY 16”). The transaction enhances Hydrofarm’s
already robust portfolio of high-performance, innovative and
proprietary branded products in the lighting, climate control,
nutrients and growing media categories.
First Quarter 2021 Earnings Conference
Call
The Company plans to release full financial
results for its first quarter ended March 31, 2021 on May 13, 2021
at 5:00 PM ET. The conference call can be accessed live over the
phone by dialing 201-389-0879. A replay will be available after the
call until Thursday, May 20, 2021 and can be accessed by dialing
412-317-6671. The passcode is 13718921. The conference call will
also be webcast live and archived on the corporate website at
www.hydrofarm.com, under the “Investors” section.
About Hydrofarm Holdings Group,
Inc.Hydrofarm is a leading distributor and manufacturer of
controlled environment agriculture equipment and supplies,
including high-intensity grow lights, climate control solutions,
and growing media, as well as a broad portfolio of innovative and
proprietary branded products. For more than 40 years, Hydrofarm has
helped growers in the U.S. and Canadian markets make growing easier
and more productive. The Company’s mission is to empower
growers, farmers and cultivators with products that enable greater
quality, efficiency, consistency and speed in their grow
projects. For additional information, please visit:
www.hydrofarm.com
Cautionary Note Regarding
Forward-Looking Statements
Statements contained in this press release,
other than statements of historical fact, which address activities,
events and developments that the Company expects or anticipates
will or may occur in the future, including, but not limited to,
information regarding the future economic performance and financial
condition of the Company, the plans and objectives of the Company’s
management, and the Company’s assumptions regarding such
performance and plans are “forward-looking statements” within the
meaning of the U.S. federal securities laws that are subject to
risks and uncertainties. These forward-looking statements generally
can be identified as statements that include phrases such as
“guidance,” “outlook,” “projected,” “believe,” “target,” “predict,”
“estimate,” “forecast,” “strategy,” “may,” “goal,” “expect,”
“anticipate,” “intend,” “plan,” “foresee,” “likely,” “will,”
“should” or other similar words or phrases. Actual results could
differ materially from the forward-looking information in this
release due to a variety of factors, including, but not limited
to: The ongoing COVID-19 pandemic could have a material
adverse effect on the Company’s business, results of operation,
financial condition and/or cash flows; Interruptions in the
Company's supply chain, whether due to COVID-19 or otherwise could
adversely impact expected sales growth and operations; The highly
competitive nature of the Company’s markets could adversely affect
its ability to maintain or grow revenues; Certain of the Company’s
products may be purchased for use in new or emerging industries or
segments, including the cannabis industry, and/or be subject to
varying, inconsistent, and rapidly changing laws, regulations,
administrative and enforcement approaches, and consumer perceptions
and, among other things, such laws, regulations, approaches and
perceptions may adversely impact the market for the Company’s
products; Compliance with environmental and other public health
regulations or changes in such regulations or regulatory
enforcement priorities could increase the Company’s costs of doing
business or limit the Company’s ability to market all of its
products; Damage to the Company’s reputation or the reputation of
its products or products it markets on behalf of third parties
could have an adverse effect on its business; If the Company is
unable to effectively execute its e-commerce business, its
reputation and operating results may be harmed; The Company’s
operations may be impaired if its information technology systems
fail to perform adequately or if it is the subject of a data breach
or cyber-attack; The Company may not be able to adequately protect
its intellectual property and other proprietary rights that are
material to the Company’s business; Acquisitions, other strategic
alliances and investments could result in operating and integration
difficulties, dilution and other harmful consequences that may
adversely impact the Company’s business and results of operations.
Additional detailed information concerning a number of the
important factors that could cause actual results to differ
materially from the forward-looking information contained in this
release is readily available in the Company’s Annual Report on Form
10-K for the fiscal year ended December 31, 2020 and in the
Company’s other filings with the SEC. The Company disclaims any
obligation to update developments of these risk factors or to
announce publicly any revision to any of the forward-looking
statements contained in this release, or to make corrections to
reflect future events or developments.
Investor Relations:ICRFitzhugh Taylor
ir@hydrofarm.com
Media Contacts:The LAKPR
GroupHannah Arnold, 202-559-9171, harnold@lakpr.comLynn Trono,
323-672-8226, ltrono@lakpr.com-or-HydrofarmLisa Gallagher,
513-505-2334, lgallagher@hydrofarm.com
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