Hydrofarm Announces Completed $16M Sale Of Aurora Peat Products To Raven Holdings, Including $5M Promissory Note; Proceeds To Reduce Term Loan Debt
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Why It Matters
Hydrofarm sold one of its peat product businesses for $16 million to pay down money it owes to the bank. This is like selling something you own to pay off a loan—it gives the company less debt to worry about.
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