Sun Gro Expands Again

November 14, 2007
Written by Greenhouse Canada
Sun Gro Horticulture Income Fund (the Fund), together with its wholly owned subsidiary, Sun Gro Holdings, Inc., will acquire all of the outstanding shares of Grow Best Holdings, LLC for $20.3 million US.
Sun Gro Horticulture Income Fund (the Fund), together with its wholly owned subsidiary, Sun Gro Holdings, Inc., will acquire all of the outstanding shares of Grow Best Holdings, LLC for $20.3 million US.

Grow Best Holdings owns Florida Potting Soils, Inc. and Sunshine Peat, Inc., both based in Orlando, Florida. “This acquisition will solidify Sun Gro’s leadership in the large and growing Florida horticultural market, which we currently supply with Canadian sphagnum peat-based products,” said Mitch Weaver, president and CEO of Sun Gro
Horticulture Canada Ltd. and a trustee of the fund. “It will also put us at the forefront of our industry in the southeastern United States. With our acquisitions in California earlier this year, we will now have manufacturing
facilities in each of the four largest professional markets in the U.S.” The transaction is Sun Gro’s fourth acquisition in 2007. www.sungro.com

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