Bluelab has acquired fellow New Zealand-based agri-tech company Autogrow.
The move brings together almost 60 years of expertise in the horticulture technology sector, with an international staff base spanning the US, Canada, Asia, Europe and New Zealand.
The acquisition covers all Autogrow technology, including the Intelli range and MultiGrow automation systems.
“We are incredibly excited to announce this acquisition and what it will mean for the industry,” said Bluelab chief executive Greg Jarvis.“Autogrow brings complementary products to our portfolio and strong relationships already in-market, particularly in South-East Asia.
“We already have alignment across our purpose and behaviours and an experienced approach to CEA (controlled environment agriculture). We will be one company with two strong brands. Together we can access broader opportunities and continue supporting customers in a market which, recent research indicates, will grow at 18.7 per cent CAGR to US$172bn by 2025. The future is looking very bright indeed.”
Autogrow board director Darryn Keiller said the company has been working hard over the past seven years to build the Autogrow business, which now has customers in more than 45 countries.
“It’s hugely rewarding to have Greg Jarvis and Bluelab recognise the value in the company and our people,” Keiller said. “Autogrow was originally founded by horticultural inventor and growing enthusiast Jeff Broad in 1993, who sadly passed away in 2013, he would no doubt be wildly excited about where the company he founded now is.
“The technology Autogrow has is world class and the potential for more growth is very exciting. Some of the Autogrow team have been with the business for over a decade, so Bluelab is gaining a wealth of experience as well as great technology. We look forward to ensuring a smooth transition over the next few months for the Autogrow team and customers.”
Both Autogrow and Bluelab are privately held companies with changes in trading taking effect from 31 March 2022.