ANAHEIM, CA--(Marketwired - Mar 25, 2014) - Greengro Technologies (PINKSHEETS: GRNH) announced today that it has concluded the acquisition of Roseville, California based Vertical Hydrogarden. The retail location serves as the initial brick and mortar location for the company's franchise of stores slated to open in various locations. Through the acquisition, Greengro will retain 100% ownership of the brand and all assets with no debt carried over from previous operations.
The second location of the proof-of-concept growth model will open soon under the Vertical Hydrogarden brand through an asset purchase agreement of Anaheim based Greenleaf Hydroponics. The current location and all assets will convert into Greengro control beginning April 1, 2014. The store will serve as the new product integration facility and will feature the company's Vertical Gro Systems, Flux Lighting Brand of products and its Modular Gro Systems.
Verticalhydrogarden.com, operating since 2010, will serve as the primary online platform for all stores launched in the franchise. Vertical Hydrogarden offers competitive pricing online through its existing relationships with offshore manufacturers of name brand products. The store will also serve as the primary distribution and fulfillment center for sales generated by franchised stores.
"We are very excited to finalize the acquisition of Vertical Hydrogarden. We have worked hard to ensure that all of the pieces were in place to prove the concept of our franchise model for our vertical grow systems and related products. It is only now that we are able to begin in earnest with the launch of our first two stores under the flagship brand of Vertical Hydrogardens," states James Haas, CEO, Greengro Technologies.
To learn more about Vertical Hydrogarden vistit http://www.verticalhydrogarden.com or visit them on Facebook at https://www.facebook.com/vertical.hydrogarden
About Greengro Technologies
Greengro Technologies (PINKSHEETS: GRNH) is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients. Greengro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.