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Terra Tech Acquisition Target, GroRite a New Jersey Based Urban Agricultural Retail Super Store, Named Top 100 Revolutionary Garden Centers in the US
By: Business Wire
Feb. 7, 2013 09:18 AM
Terra Tech Corp (OTCBB:TRTC), a leader in sustainable agricultural products, is pleased to announce that GroRite, a New Jersey based urban agricultural retail supercenter was named as Today’s Garden Center’s Revolutionary 100 Garden Centers for 2013. GroRite has grown into one of New Jersey’s premier gardening centers with annual revenue in excess of $4 Million.
The Revolutionary 100 Awards focus on recognizing the most innovative retail garden centers for their commitment to creating a customer experience that sets their operation apart from the rest. Today’s Garden Center utilizes a competitive and lengthy review process when determining its winners.
“We have worked hard to revolutionize the way people view a gardening center,” explains Ken Vande Vrede, CEO of GroRite. “Traditional retail outlets are a thing of the past as consumers are demanding a broader range of products, as well as new technologies for cultivating such as hydroponics.”
In addition, GroRite retail center will add Terra Tech’s line of hydroponic equipment to its shelves giving shoppers access to some of the most innovative and affordable urban gardening products on the market today. Terra Tech has a letter of Intent to acquire GroRite and the two entities are working aggressively to finalize the terms.
“Recognition like this speaks volumes that we made a great choice in pursuing an acquisition of GroRite,” explains Derek Peterson, CEO of Terra Tech. “We are looking forward to replicating their model in other locations throughout the US.”
About Terra Tech
Through its wholly-owned subsidiary GrowOp Technology, Terra Tech Corp. specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners. We work closely with expert horticulturists, engineers, and plant scientists to develop and manufacture advanced proprietary products for the fast-growing urban agricultural industry as well as individual hobbyists. Large companies, small urban farmers, home enthusiasts, and traditional greenhouse growers utilize our products. Our complete product line is available at specialty retailers throughout the United States, and via our website. Terra Tech Corp. was incorporated in July 2008 in the State of Nevada; its subsidiary GrowOp Technology was founded March 2010, in Oakland, California.
Statements in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Terra Tech Corp.’s filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to Terra Tech Corp.’s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified sales representatives, (iv) competition, pricing and development difficulties, (v) ability to integrate GrowOp Technology Ltd. into its operations as a reporting issuer with the Securities and Exchange Commission, and (iv) general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Terra Tech Corp.’s website does not constitute a part of this release.
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