The ScottsMiracle-Gro Company SMG has acquired Luxx Lighting, a lighting company, and True Liberty Bags — the industry’s leading provider of liners and storage solutions to dry and cure plant products. The Luxx Lighting buyout considerably strengthens The Hawthorne Gardening Company’s industry-leading lighting portfolio.
Luxx Lighting is an addition to a product portfolio that includes the Gavita and Sun System brands. This would open up opportunities for significant cost synergies and process improvements across the portfolio that will be disclosed in greater detail in the weeks ahead, the company noted.
The company acquired the assets of Luxx Lighting for $215 million. Hawthorne will expand the marketing and distribution of Luxx Lighting in emerging markets, including the East Coast. The acquisition, completed on Dec 30, 2021, adds roughly $100 million in sales and $20 million in operating income to Hawthorne on an annualized basis. ScottsMiracle-Gro projects revenues of roughly $75 million from Luxx Lighting through fiscal 2022. The transaction is projected to be neutral to earnings for the year due to purchase accounting and one-time deal costs.