Miracle-Gro seems to have finally gotten hip to the fact that lots of people use its chemical fertilizer to grow marijuana — and that with a little marketing, that number could get a lot, well, higher.
In an unusual move for the head of such a large company, Scotts Miracle-Gro Company CEO Jim Hagedorn said he is “exploring” targeting medical marijuana cultivators to boost sales at his lawn and garden supply firm, reports Dana Mattioli at
The Wall Street Journal.
“I want to target the pot market,” Hagedorn said in an interview. “There’s no good reason we haven’t.”
Sales at Scott’s aren’t exactly suffering. In fact, they rose five percent last year, to $2.9 billion. But the company, based in Marysville, Ohio, relies on sales at three mega-retailers — Home Depot, Lowe’s, and Wal-Mart — for almost two-thirds of its revenue. But with those big-box retailers not building new stores as quickly as they used to, it appears the CEO wants to “diversify.”