Hydrofarm has entered into an agreement to acquire Illinois-based Innovative Growers Equipment (IGE), for approximately $58.0 million. The transaction is expected to close in early November 2021.
“With their manufacturing capabilities and strong line of customized CEA solutions for commercial growers, including benching and racking systems, made-in-America LED lighting solutions, and other equipment and services, IGE is a solid addition to our growing portfolio," said Bill Toler, Chairman and Chief Executive Officer of Hydrofarm.
“Our success in the indoor growing market is rooted in our premium quality products and level of service to our customers,” said Chris Mayer, President and CEO of Innovative Growers Equipment Inc. “Hydrofarm is a longtime customer of ours and we have been selling Hydrofarm’s line of lighting products for many years. We admire their deep understanding of indoor growing and look forward to joining the Hydrofarm team.”
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