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Hydroponics giant Hydrofarm buys Field 16 for $78m

Heavy 16 plant nutrients.

Paramount-based Field 16, a maker of plant nutrients used in the cannabis industry, was acquired by hydroponics equipment and supplies giant Hydrofarm Holdings Group Inc. for $78.1 million in cash and debt.

It’s the first acquisition by Fairless Hills, Pa.-based Hydrofarm, which has a $2.1 billion market capitalization, since going public in December.

The transaction is expected to close in May.

Field 16 manufactures and distributes Heavy 16, a line of plant nutrients designed to boost the yield and quality of crops. The nutrients are a staple in most commercial cannabis growing operations, and the company’s products are sold in more than 300 retail stores.

To Read The Rest Of This Article By Pat Maio on Los Angeles Business Journal

Published: April 27, 2021

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