ASX medicinal cannabis and agricultural tech company RotoGro expands into the fertigation game with the acquisition of Hanson’s Water Treatment Inc.
- RotoGro has agreed to acquire one hundred percent (100%) of the Fertigation assets, intellectual property, ongoing contacts, key personnel, industry know-how and business goodwill
- The acquisition provides a specialised business line for water treatment and nutrient management in the viticulture, perishable foods and lawful cannabis space Fertigation is the injection of fertilizers, soil amendments, and other water-soluble products into an irrigation system
- The acquisition consideration is equivalent to three (3) times Hanson Fertigation’s 2017 financial year EBITDA
- The Agreed Valuation will be paid through the issue of five million (5,000,000) fully-paid ordinary shares in the capital of RotoGro
Hanson’s Water Treatment Inc., a company incorporated pursuant to the laws of the State of Nevada, USA, is located in Las Vegas, Nevada and was established in 1957 ("Hanson"). Hanson operates the business of water treatment and fertigation services, focused on commercial installations in the State of Nevada. Hanson has a specialized business line for water treatment and nutrient management in the viticulture, perishable foods and lawful cannabis space ("Hanson Fertigation"). To date Hanson Fertigation has successfully provided design solutions, installations and ongoing service for more than twelve (12) licensed lawful cannabis facilities in the State of Nevada.
Fertigation is the injection of fertilizers, soil amendments, and other watersoluble products into an irrigation system. The fertigation solution developed by Hanson Fertigation is a patent-pending fully-automated nutrient delivery system which purifiessource water and adds client-specified recipes of nutrients to maximise yields and optimise cost efficiencies during the growth cycle of each crop.
The President of Hanson, Stephen C. Everett states, "We are very excited with
the acquisition by RotoGro as it will accelerate the global expansion of our
patent-pending fully-automated nutrient delivery system. With more than 30
years of market-proven experience working in the water treatment, agriculture
and nutrient space starting with viticulture and perishable foods, we have been
able to drive risk reduction and economies of scale, integrating technology and
science to the art of growing."
the acquisition by RotoGro as it will accelerate the global expansion of our
patent-pending fully-automated nutrient delivery system. With more than 30
years of market-proven experience working in the water treatment, agriculture
and nutrient space starting with viticulture and perishable foods, we have been
able to drive risk reduction and economies of scale, integrating technology and
science to the art of growing."
Managing Director of RotoGro, Michael Carli states, "The acquisition of Hanson
Fertigation is a key milestone in building the full suite of capabilities to provide
our customers with a turnkey solution from ‘concept to harvest’. The fertigation
business is the first cornerstone in our third vertical that provides solutions to
all forms of agriculture: from field crops to greenhouses to flat deck
hydroponics. This acquisition expands the RotoGro Rotary Garden System
capabilities on an enterprise level. The opportunities for revenue growth are
immense with secured orders to date in excess of USD$1M for 2018. Building
on the focused penetration in Nevada, the opportunities across all agricultural
applications globally are very exciting".
The Company is focused on expanding into industry synergistic opportunities;
exploring strategic partnerships and complimentary acquisitions in related
markets, which include, lawful cannabis license ownership, growing
management services, world class fertigation systems, industry leading
nutrients, emerging tissue culture expertise and other supporting faculties of
hydroponic growing.
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