Scotts Miracle-Gro Reportedly Looks to Enter Medical Marijuana Market

Scotts Miracle-Gro is reportedly exploring how to enter the medical marijuana market.

Scotts Miracle-Gro is reportedly exploring how to enter the medical marijuana market.

Scotts Chief Executive Jim Hagedorn told The Wall Street Journal that the company is considering the move to help boost sales at the lawn and garden company perhaps best known for weed killer.

"I want to target the pot market," Hagedorn told the newspaper. "There's no good reason we haven't."

Sales at Scotts rose 5 percent last year to $2.9 billion, but the Marysville, Ohio, company relies on sales at three key retailers -- Home Depot Inc., Lowe's Cos. and Wal-Mart Stores Inc. -- for nearly two-thirds of its revenue, the newspaper reports.

And with consumers still cautious regarding spending, those retailers are not opening new stores as quickly as usual, making growth for suppliers like Scotts difficult. As a result, Hagedorn has asked his regional salesmen to look for smaller pockets of growth like the marijuana market to pad sales. To target marijuana growers, Scotts would likely buy niche dirt companies that already exist rather than create its own line of branded products, the Journal reports.

A total of 16 states have legalized medical marijuana. The market will reach $1.7 billion in sales this year, according to a report by See Change Strategy LLC, an information data services company.

Click for more on this report from the Wall Street Journal.

In Other News

fake money

Keywords clouds text link

 máy sấy   thịt bò mỹ  thành lập doanh nghiệp
Visunhomegương trang trí  nội thất  cửa kính cường lực   lắp camera Song Phát thiết kế nhà 

Our PBN System:  thiết kế nhà xưởng thiết kế nội thất thiết kế nhà tem chống giả ban nhạ  ốp lưngGiường ngủ triệu gia  Ku bet ku casino buy fake money máy sấy buồn sấy lạnh

mặt nạ  mặt nạ ngủ  Mặt nạ môi mặt nạ bùn mặt nạ kem mặt nạ bột mặt nạ tẩy tế bào chết  mặt nạ đất sét mặt nạ giấy mặt nạ dưỡng mặt nạ đắp mặt  mặt nạ trị mụn
mặt nạ tế bào gốc mặt nạ trị nám tem chống giả  công ty tổ chức sự kiện tổ chức sự kiện
Ku bet ku casino
Sâm tươi hàn quốc trần thạch cao trần thạch cao đẹp

suất ăn công nghiệpcung cấp suất ăn công nghiệp

© 2020 US News. All Rights Reserved.