- Sugarmade has agreed to acquire Sky Unlimited, LLC, a hydroponic cultivation supplier
- SGMD has a second formal acquisition proposal in place
- The company has directly invested in hemp production to benefit from explosive growth in the market for CBD products
- Sugarmade is also targeting the European hydroponics market
California-based hydroponics company Sugarmade, Inc. (OTCQB: SGMD) is growing in the rapidly expanding cannabis industry through acquisition and expansion as an equipment supplier to cultivators. Sugarmade recently announced that it had agreed to acquire Sky Unlimited, LLC, dba Athena United, a major wholesale supplier of hydroponic cultivation supplies. The deal is expected to add $40 million to SGMD’s 2019 revenues.
“This new revenue stream combined with our recently upwardly guided revenue forecast of $30 million for next year will make Sugarmade one of the largest publicly traded suppliers to the booming cannabis cultivation marketplace, with a combined revenue forecast for next year in excess of $70 million,” Sugarmade CEO Jimmy Chan stated in a…
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