- If successful, acquisition of two profitable hydroponic cultivation supply companies will boost Sugarmade’s 2019 revenue guidance to $75 million
- Global hydroponics market expected to be worth more than $10 billion by 2023
- Expansion into hemp market includes significant investment into hemp cultivation
- Hemp-derived cannabidiol market worth $591 million, expected to hit $22 billion in under five years
Sugarmade, Inc. (OTCQB: SGMD), one of the largest publicly traded hydroponics supply companies moving into the industrial hemp space, is seeking to expand its portfolio with the acquisition of two hydroponic cultivation companies working in the lucrative cannabis space. Bringing the two companies into the Sugarmade fold “will not only significantly boost our top line revenue growth, but will expand our distribution across the most important sectors of the fast-growing cannabis marketplace,” Jimmy Chan, Sugarmade’s CEO, said in a news release (http://nnw.fm/3lYGm).
The company’s formal acquisition proposals target a profitable and cash-flow positive Southern California-based major supplier of hydroponic cultivation supplies to the wholesale sector and to large commercial cultivators. Under the terms…
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