Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today announced the closing of its acquisition of BZRTH, LLC, a leading ecommerce supplier to the rapidly expanding hydroponic agricultural space. Sugarmade expects that the new combined entity will drive EBITDA profitability, net-positive cash flows, and top-line sales of $37 million on a forward basis. “As of today, Sugarmade is one of the largest publicly traded hydroponics companies in the world,” SGMD CEO Jimmy Chan said in the news release. “The most important idea we want to convey to our committed shareholders right now is that this move was not a one-off deal. It’s part of a multi-step roll-up strategy designed to create the dominant force in this market as we look ahead to a world where hydroponics becomes the difference between success and failure for producers in the rapidly growing market for hemp and hemp-related crops in North America.”
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About Sugarmade, Inc.
Sugarmade, Inc. (OTCQB: SGMD) is a product and branding marketing company investing in operations and technologies with disruptive potential. The company is becoming a leading supplier to the growing hemp industry and is benefitting from the growth of the hydroponic marketplace. The company is in the process of acquiring several leading hydroponic and agricultural supply companies that are currently producing in excess of $70 million in annual revenues. Sugarmade is also an investor in fast growing Hempistry, Inc., a Kentucky-based cultivator and Carryoutsupplies.com, a leader provider to the quick service restaurant industry. For more information, visit the company’s website at www.Sugarmade.com.
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