ScottsMiracle-Gro's Hawthorne Sale Nears Completion with Detailed Terms, Q2 Close
Summary
ScottsMiracle-Gro (SMG) provided a significant update on the planned divestiture of its Hawthorne Gardening Company subsidiary to Vireo Growth Inc. The transaction, which could close as early as five business days from this announcement and is expected to complete in Q2 2026, involves SMG receiving at least US$35 million in cash, approximately US$50 million in net working capital, US$20 million in inventory, and 206 million subordinate voting shares of Vireo, along with a warrant to purchase 80 million Vireo shares. This update formalizes the specific financial consideration and timeline for a strategic divestiture that was previously announced. The sale of Hawthorne is a material event for ScottsMiracle-Gro, impacting its operational focus and capital structure. Investors will watch for the definitive agreement and final closing.
At the time of this announcement, SMG was trading at $60.65 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3.5B. The 52-week trading range was $45.61 to $72.35. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.