Hydrofarm to acquire Innovative Growers Equipment for $58m.

Hydrofarm, a distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture, agreed to acquire Innovative Growers Equipment, a manufacturer of horticulture benches, racking and LED lighting systems, for $58m. "Our success in the indoor growing market is rooted in our premium quality products and high level of service to our customers. Hydrofarm is a longtime customer of ours and we have been selling Hydrofarm’s superior line of lighting products for many years. We admire their deep understanding of indoor growing and look forward to joining the Hydrofarm team," Chris Mayer, Innovative Growers Equipment President and CEO.