12:38 PM EDT, 03/30/2026 (MT Newswires) -- Vireo Growth ( VREOF ) on Monday released an update on its nonbinding Memorandum of Understanding (MOU) with Scotts Miracle-Gro ( SMG ) to buy The Hawthorne Gardening Company, an operating unit of Scotts.

The company said the Hawthorne deal could close any time following five business days. The material details of the deal are expected to be substantially consistent with those discussed on Vireo's earnings call on March 17.

This planned share-based deal is expected to be completed during the second quarter of 2026. Vireo plans to appoint Scotts Miracle-Gro ( SMG ) executive vice-president Chris Hagedorn to its board of directors.

The company said completion of the Hawthorne deal remains subject to, among other things, the negotiation and execution of definitive transaction agreements on terms acceptable to both parties and receipt of all required regulatory approvals, including, if applicable, the approval of the Canadian Securities Exchange.

Shares of the company were last seen unchanged at $0.51 on the Canadian Securities Exchange.