Scotts Miracle-Gro Pours-In Big Bucks for Expanding Cannabis Holdings Amid Expected Sales Decline
Scotts Miracle-Gro said that first-quarter sales of its New York-based Hawthorne Gardening Co. hydroponic business are expected to decline about 40% because of a slowdown in the cannabis market and supply-chain disruptions. Scotts noted the expected decline Tuesday while also announcing the acquisitions of two California-based companies to strengthen its cannabis-related business, Hawthorne: Luxx Lighting for $215 …