Strategic Expansion to the Northeast Adds Five Locations and Expands Physical Footprint into Seventh and Eighth States
PALM BEACH, Fla. — (BUSINESS WIRE)— January 4, 2022 — Hydrobuilder Holdings LLC (“Hydrobuilder Holdings” or “the Company”), a leading omnichannel platform serving the indoor and outdoor CEA industry, including hydroponics, today announced that it has entered the Northeast by adding New England Hydroponics (“NE Hydro”) to its growing portfolio of assets, bringing its total number of physical retail locations to 22 and its number of warehouse locations to 9. Founded in 2002 by Ethan Holmes as an online retailer, New England Hydroponics has since grown to five retail locations and one warehouse location in Massachusetts and Maine and is now a leading indoor gardening retailer in the strategically important Northeastern market.
“We are pleased to have identified such a complementary acquisition in New England Hydroponics and to be expanding our footprint to the Northeast as we enter this fast-growing market. For more than 15 years, NE Hydro has built an enviable name for itself as a ‘go-to’ retail destination for fans, lighting, hydroponic supplies and organic products because of their superior selection and service. We also share a similar culture of aspiring to be the best place to work for our associates and the best place to shop for our customers. Under our ownership, we intend to uphold and build on that reputation as we bring to bear our advantages as a scale omnichannel platform to expand the Commercial division and execute our strategy of rapid growth in a dynamic and evolving industry,” said Markus Hockenson, CEO of Hydrobuilder Holdings.
“We are delighted to be joining the Hydrobuilder Holdings platform. Becoming a part of this rapidly-expanding portfolio of assets will strengthen NE Hydro through strategic and financial resources that can support our combined large and diverse customer base. I am looking forward to continuing on with the Company and could not be more excited about what this partnership means for our team going forward,” said Ethan Holmes, Founder of New England Hydroponics.
In addition to the acquisition of New England Hydroponics, the Company recently completed its relocation of Elevated Equipment Supply’s flagship Los Angeles location to its new purpose-built and state of the art warehouse in Los Angeles spanning 85,000 square feet of high pile storage, an increase of 25,000 square feet from its legacy 60,000 square foot facility.
“Our relocation to a new state of the art warehouse will enable us to efficiently and effectively service our growing commercial customer segment, while relieving capacity constraints we
experienced at our legacy location. We are committed to providing a broad product offering and exceptional customer service, and this new facility is a key piece of how our integration playbook helps our acquired companies accelerate their impressive growth momentum,” said Mr. Hockenson. “We look forward to showcasing this new location for our customers and partners in the new year.”
Hydrobuilder Holdings is a leading omnichannel platform with 22 retail locations and 9 warehouses serving the $12.5 billion indoor and outdoor CEA industry, including hydroponics, currently focusing on the $3.0 billion North American CEA market, and serving the entire spectrum of customers from hobbyists to the largest commercial growers through its online, retail and warehouse direct channels. The Company was formed in October 2020 and has since acquired six companies that are each market leaders across different sales channels and geographies: GreenCoast, the nation’s second largest hydroponics retailer; Hydrobuilder.com, a leading online retailer of hydroponics and horticultural supplies; Elevated Equipment Supply, a full-service equipment and supplies provider; Way to Grow, a Colorado-based retailer of aeroponic, hydroponic and greenhouse products; Home Grown Ventures, a Washington-based manufacturer and distributer of a proprietary blend of water-soluble nutrients used for commercial agriculture; and New England Hydroponics, a Northeast-based retailer of lighting, climate control, tools, supplies, nutrients and growing mediums. For more information, please visit https://hbhold.com/
New England Hydroponics was founded in 2002 by Ethan Holmes and now operates five retail locations and one warehouse location in Massachusetts and Maine. Specializing in both indoor and organic gardening, the experts at NE Hydro work with growers of all sizes to help their gardens thrive. For more information, please visit https://www.nehydro.com/
Cory Ziskind ICR
InvestorsRaphael Gross ICR