Vireo Growth has announced that it has completed the acquisition of The Hawthorne Gardening Company.
As a result of the Hawthorne Transaction, Vireo acquired US$35 million of cash held by Hawthorne, approximately US$58 million of net working capital, and US$20 million of inventory to be supplied to the company over two years, in exchange for the issuance to Good Dog Holdings of 213 million subordinate voting shares of the company and a warrant to purchase 80 million Shares at an exercise price of US$0.85 per share, exercisable for a period of five years from the date of issuance. In connection with the transaction, Vireo has nominated Chris Hagedorn, Executive Vice President of Scotts Miracle-Gro and Executive Lead of the Hawthorne business, for election to its Board of Directors at the Company's Annual General and Special Meeting of Shareholders to be held on May 29, 2026.
"The acquisition of Hawthorne further strengthens the Vireo balance sheet and creates a procurement platform to optimize supply chain management and drive cost efficiency across our portfolio," said John Mazarakis, Chief Executive Officer of Vireo Growth. "We are pleased to partner with Scotts Miracle-Gro on a transaction that contributes approximately US$110 million of cash and net working capital to the Company, and welcome the opportunity to maximize the value and operational contribution of the Hawthorne business."
"Vireo has demonstrated a clear ability to integrate and operate complex businesses effectively," said Chris Hagedorn, Executive Vice President of The Scotts Miracle-Gro Company. "Hawthorne fits naturally within Vireo's platform, and I'm excited to work alongside the team to help unlock its full potential."
For more information:
The Hawthorne Gardening Company
hawthornegc.com/
Vireo
vireohealth.com
