Grow-Tech, a South Portland company that engineers and manufactures soilless growing media, has been sold to a Netherlands company.
The company, one of those held in the portfolio of Portland’s Anania & Associates Investment Co., was sold to Dümmen Orange, a floricultural company, for an undisclosed sum, according to a news release from Anania.
The deal is not expected to result in any changes at the Maine plant, where 45 people are employed.
Dümmen Orange is a global leader in the breeding and development of cut flowers and potted plants. It said the acquisition of Grow-Tech will help it achieve its sustainability goals. The company employs 7,000 worldwide.
Anania & Associates acquired Grow-Tech in 2010. The company and its products got their start in the 1980s when Dole Foods was searching for a way to improve its lettuce seeding operation. The collaboration of Dole and the company that would become Grow-Tech provided Dole with a technology that was initially developed by NASA, according to the release. Grow-Tech’s products are now used by commercial growers and propagators in horticultural, forestry and hydroponics markets in the U.S., Europe, the Middle East and Asia.
In 2016, Grow-Tech was honored as South Portland’s Business of the Year.
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