Scotts Invests $4.5M in Indoor Gardening Manufacturer AeroGrow, Tags Product with Miracle-Gro Brand

Scotts Invests $4.5M in Indoor Gardening Manufacturer AeroGrow, Tags Product with Miracle-Gro Brand

Wednesday, April 24, 2013
MARYSVILLE, OH - Scotts Miracle-Gro is acquiring a minority stake in indoor gardening system manufacturer AeroGrow International, investing a reported $4.5 million through its SMG Growing Media subsidiary. Under the agreement, AeroGrow's AeroGarden product, an appliance used to grow herbs, vegetables and flowers indoors, will be rebranded as Miracle-Gro AeroGardens. AeroGrow is expected to receive additional support from Scotts in areas such as marketing, distribution, and research and development. The transaction includes a $4 million investment and a $500,000 asset purchase. SMG Growing Media gained a 27 percent stake in AeroGrow, with options to increase its holding in three years, continuing through an eight-year period.