GCorp, a holding company founded by New York’s philanthropic Gilder Family, and Grow Industries Inc. (formerly ClimaGrow) have entered into a definitive merger agreement. Grow Industries will become a wholly-owned subsidiary of GCorp. The combined company will use the Grow Industries name.
GCorp. is known for making early investments in Tilray, Privateer, and Bountiful Farms. As some of the first investors in FedEx, Wal-Mart, Home Depot and Southwest Airlines, Richard Gilder’s family members, also became major benefactors of Central Park, the New York Historical Society, and the Museum of Natural History.
“This merger unites Grow Industries’ deep knowledge, long-term client relationships, proven track record, and suite of cultivation and manufacturing solutions with our resources and network,” said GCorp Co-founder Gilder Keeler. “As the cannabis sector continues to emerge in North America and overseas, this once-in-a-generation growth opportunity will support the Grow Industries team as they continue designing and building some of the best cultivation and manufacturing facilities in the world. It will also continue to drive growth for GCorp as it
Grow Industries was founded by cannabis industry veteran Jesse Elkins more than a decade ago. Elkins and his team of architects, engineers, environmental scientists, HVAC and cultivation and manufacturing experts have built cultivation and manufacturing facilities, including Wonderbrett’s cultivation facility. The Long Beach, California facility is one of the largest in North America and was designed and engineered to create small-batch, craft-style premium products at scale and consistently offer clean and safe products.
“As the cannabis industry continues to grow at an exponential rate, many operators are faced with a host of unique challenges, including a lack of resources, limited bandwidth capacity and a shortage of available topic experts across the value chain,” said Grow Industries Founder Jesse Elkins. “With a shared vision for the future, Grow Industries will bring MSOs, licensed producers and cannabis brand specialists, financial and technical solutions to bear. This will not only address the marketplace gap between supply and demand for quality cultivation and manufacturing facilities, but also allow our clients to gain the competitive edge they are looking for.”
According to a statement, Grow Industries will continue to design and build out complete, free-standing cannabis cultivation and manufacturing facilities from the ground up. The company will continue to deliver its comprehensive suite of customized and turnkey cultivation and manufacturing solutions.