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New Zealand based Agri-tech company Bluelab, recently named supreme winner of the New Zealand International Business Awards 2021, has acquired automation company Autogrow as part of a global strategy to expand operations into new territories and increase its range of technology offerings to customers.
Both companies combined have almost 60 years of expertise in the horticulture technology sector and have employees worldwide including the United States, Canada, Asia and Europe.
“We are incredibly excited to announce this acquisition and what it will mean for the industry. Autogrow brings complementary products to our portfolio and strong relationships already in-market, particularly in South-East Asia,” says Bluelab CEO Greg Jarvis.
“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% CAGR to US$172 billion by 2025. The future is looking very bright indeed.”
The acquisition will include all Autogrow technology including the popular Intelli range and MultiGrow automation systems as well as the wealth of experience accrued over the past 30 years.
Autogrow Board Director Darryn Keiller says “we’ve been working hard over the past seven years building the Autogrow business, from customers in 12 countries, to more than 45. It’s hugely rewarding to have Greg Jarvis and Bluelab recognise the value in the company and our people. 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. And the next exciting step that awaits it.”
“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.
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