Benzinga | Jul 20, 2021 11:52AM EDT

GrowGeneration Acquires Aqua Serene To Expand Footprint In Southern Oregon

* GrowGeneration Corp (NASDAQ:GRWG) has acquired Aqua Serene, a southern Oregon-based hydroponic garden center with stores in Eugene and Ashland, for an undisclosed sum.

* Aqua Serene generates revenue of over $14 million annually.

* The Aqua Serene's team of 10 employees will join Grow's team of over 600 professionals as part of the transaction.

* "As the country's fourth-largest legal cannabis market, Oregon continues to be a critical market for GrowGeneration," said CEO Darren Lampert.

* Cash and equivalents of the company totaled $133.1 million as of March 31, 2021.

* Price action: GRWG shares are trading higher by 2.91% at $39.59 on the last check Tuesday.