Hydrobuilder Holdings Provides Business Update | Business Wire
PALM BEACH, Fla.–(BUSINESS WIRE)–Hydrobuilder Holdings LLC (“Hydrobuilder Holdings” or “the Company”), a leading omnichannel platform serving the indoor and outdoor CEA industry, including hydroponics, today provided a business update on its growth strategy.
“We are very excited to announce our expansion into two additional states, with new location openings in Michigan and Oklahoma. We continue to strategically invest for growth in a disciplined, cash efficient, and high ROI manner. We purpose-built our omnichannel platform with strategic acquisitions in California, and have since expanded to Colorado with our acquisition of Way to Grow, and are now expanding our commercial warehouse direct business to Michigan and our hybrid retail model to Oklahoma. We have also been busy on the acquisition front with a number of promising opportunities in the pipeline,” said Markus Hockenson, CEO of Hydrobuilder Holdings.
The new greenfield locations will extend the Company’s physical footprint into its 5th and 6th states, while continuing to serve all 50 states through its eCommerce channel, and will enable the Company to further capture share in the large and rapidly growing $12.5 billion indoor and outdoor CEA industry, including hydroponics, with a current focus on the $3.0 billion North American CEA market.
· Opening the first Elevated Equipment Supply location outside of California in Jackson, Michigan spanning 45,000 square feet in the first quarter of 2022.
· Opening a GreenCoast Hybrid (retail and commercial warehouse direct) location in Tulsa, Oklahoma spanning 45,000 square feet in the second quarter of 2022.
In addition to new greenfield locations, the Company is moving forward with relocation plans that will be operational in Q1 2022:
· Relocating Elevated Equipment Supply to a new, larger, purpose-built and state of the art warehouse in Los Angeles spanning 85,000 square feet.
· Relocating Home Grown Ventures from its current facility in Washington State to a new, larger facility in Los Angeles spanning 30,000 square feet, which will allow the Company to meaningfully expand HGV’s production capacity.
“Our continuing mission is to be the leading omnichannel provider of equipment and supplies to the indoor and outdoor CEA industry, including hydroponics. Simply put, we want to be the best and offer our customers – from small DIY growers to the largest commercial buyers of hydroponics – the widest variety of best-in-class brands, with knowledgeable talent and unparalleled customer service, across all channels. The end markets remain highly fragmented, competitive, and tightly regulated, and our customers look to Hydrobuilder to help them grow in this rapidly evolving industry.”
About Hydrobuilder Holdings LLC
Hydrobuilder Holdings is a leading omnichannel platform 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 five 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; and Home Grown Ventures, a Washington-based manufacturer and distributer of a proprietary blend of water-soluble nutrients used for commercial agriculture. For more information, please visit https://hbhold.com/