Written by Tom Knox for Columbus Business First.
Scotts Miracle-Gro Co. spent $136 million to buy a Dutch maker of hydroponics gardening lights.
It’s another big purchase in the industry with close ties to marijuana. Hydroponics, or growing without soil, also is a method to grow plants and vegetables.
The Marysville-based lawn and garden company has targeted pot and grow-your-own plants and vegetables as a major growth opportunity.
“Since we’re an outsider I know a lot of people will be watching to see how we behave,” he told analysts Wednesday. “This is a core business for us.”
Scotts subsidiary Hawthorne Gardening Co. spent the money to acquire a 75 percent stake in Gavita, which has $100 million in annual sales. Gavita announced the deal in June but Scotts disclosed the purchase price Wednesday.