{"id":406890,"date":"2020-12-31T09:08:27","date_gmt":"2020-12-31T14:08:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=406890"},"modified":"2020-12-31T09:08:27","modified_gmt":"2020-12-31T14:08:27","slug":"central-garden-pet-to-acquire-green-garden","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/central-garden-pet-to-acquire-green-garden\/","title":{"rendered":"Central Garden & Pet To Acquire Green Garden"},"content":{"rendered":"

<\/p>\n

Central Garden & Pet To Acquire Green Garden <\/b><\/p>\n

Acquisition Builds Further Scale in Garden Segment with Entry into Attractive Adjacent Category<\/i><\/p>\n

WALNUT CREEK, Calif.–(BUSINESS WIRE<\/a>)–
\nCentral Garden & Pet (NASDAQ: CENT, CENTA) (\u201cCentral\u201d), a market leader in the Garden and Pet industries, announced today that it has signed an agreement to acquire Green Garden Products (\u201cGreen Garden\u201d), previously known as Plantation Products, for $532 million from private equity firm Freeman Spogli & Co and other shareholders. Green Garden, headquartered in Norton, Mass., is a leading provider of vegetable, herb and flower seed packets, seed starters and plant nutrients in North America, shipping over 250 million seed packets annually. The addition of Green Garden\u2019s leading brands will expand the Central portfolio into an attractive adjacent category and strengthen the Company\u2019s relationship with major retailers.\n<\/p>\n

\n\u201cWe are thrilled to welcome Green Garden into the Central Garden & Pet team upon closing,\u201d said Tim Cofer, CEO of Central. \u201cOur new Central to Home<\/i> strategy is focused on building further scale in our two operating segments and meeting consumer and customer needs. Adding Green Garden\u2019s well-known and trusted seed and seed starting brands for vegetables, herbs and flower gardens will expand our portfolio into an attractive adjacent garden category and will strengthen our footprint with key retail customers. Moreover, we expect to leverage our strong merchandising, brand building and digital capabilities to grow sales for both Central and our retail partners.\u201d\n<\/p>\n

\nEstablished in 1980, Green Garden currently employs over 180 full-time employees with a deep sense of pride and responsibility to carry on the traditions of its brands many of which were founded in the mid-1800s. The company\u2019s portfolio of well-known and trusted brands includes Ferry-Morse\u00ae Home Gardening, Jiffy\u00ae Seed Starting, SUPERthrive\u00ae Plant Nutrients, Livingston\u00ae Seeds, Jiffy Hydro\u00ae Hydroponics, McKenzie\u00ae Seed, American Seed\u00ae and NK Lawn and Garden\u00ae. With production and distribution facilities in Ohio, California and Manitoba, Canada, Green Garden distributes more than 3,500 product SKUs to a network of over 70,000 retail locations across the home center, mass merchant, farm and independent, dollar store, and distributor\/co-op channels in the United States and Canada as well as through its owned and operated websites.\n<\/p>\n

\n\u201cWe are excited to bring our existing seed and seed starter business to Central Garden & Pet,\u201d said Michael Pietrasiewicz, President and CEO of Green Garden. \u201cOur quest for innovative ideas which leads us to develop new products that help home gardeners and outdoor hobbyists enjoy their passion and be more successful coupled with Central\u2019s expertise in the lawn and garden segment will be key to grow our business further.\u201d\n<\/p>\n

\nThe transaction is expected to close in the second quarter of fiscal 2021, subject to customary closing conditions, including regulatory approval. Central senior management will provide more details on its recent acquisitions at the Company\u2019s first quarter fiscal 2021 earnings call.\n<\/p>\n

\nWilliam Blair served as financial advisor to Green Garden and Morgan, Lewis & Bockius LLP acted as the legal advisor. Orrick, Herrington & Sutcliffe LLP served as the legal advisor to Central.\n<\/p>\n

About Central Garden & Pet<\/b><\/p>\n

\nCentral Garden & Pet (NASDAQ: CENT, CENTA) understands that home is central to life and has proudly nurtured happy and healthy homes for over 40 years. With 2020 net sales of $2.7 billion, Central is on a mission to lead the future of the pet and garden industries. The Company\u2019s innovative and trusted products are dedicated to help lawns grow greener, gardens bloom bigger, pets live healthier and communities grow stronger. Central is home to a leading portfolio of more than 65 high-quality brands including Pennington, Nylabone, Kaytee, Amdro and Aqueon, strong manufacturing and distribution capabilities and a passionate, entrepreneurial growth culture. Central Garden & Pet is based in Walnut Creek, California and has over 6,300 employees across North America and Europe. For additional information about Central, please visit the Company\u2019s website at www.central.com<\/a>.\n<\/p>\n

About Green Garden Products <\/b><\/p>\n

\nHeadquartered in Norton, Massachusetts, Green Garden Products is the leading supplier of seed packets and seed starter products for flower and vegetable gardens in North America, as well an emerging participant in the specialty soil category. The Company distributes over 3,500 SKUs under the Ferry-Morse, American Seed, Livingston Seed, McKenzie, NK Lawn & Garden, Jiffy, SUPERthrive, Dyna-Gro and Seeds of Change brand names to a network of over 70,000 retail locations across the home center, mass merchant, farm and independent, dollar store, and distributor\/co-op channels. The Company provides its retail customers with best-in-class category management services including SKU selection, packaging and displays, in-store merchandising services, and logistical solutions. In addition to its headquarters in Massachusetts, the Company maintains production and distribution facilities in Ohio, California and Manitoba. For additional information about Green Garden Products, please visit the Company\u2019s website at www.greengarden.com<\/a>.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains forward-looking statements within the meaning of applicable securities laws. All statements, other than statements of historical fact, could be deemed forward-looking statements. Statements in this press release concerning Central\u2019s business, strategy and focus; our agreement to acquire Green Garden; the ability to build scale in the seed category and add key digital capabilities; and our overall future prospects are forward-looking statements that involve a number of uncertainties and risks. Actual results or events could differ materially from those anticipated in those forward-looking statements as a result of several factors, including, without limitation, our ability to close the acquisition in a timely basis or at all, our ability to integrate the acquired company, potential benefits of the transaction to Central and our customers, and other factors listed in our annual report on Form 10-K filed with the Securities and Exchange Commission. All statements made in this press release are made only as of the date of this press release. Central undertakes no obligation to update the information in this press release in the event facts or circumstances subsequently change after the date of this press release.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201231005036\/en\/<\/a><\/span><\/p>\n

Investor Relations Contact
\n<\/b>
Friederike Edelmann
\n
(925) 412-6726
\n
fedelmann@central.com<\/a><\/p>\n

Media Relations Contact
\n<\/b>
Liz Nunan
\n
(925) 878-9465
\n
lnunan@central.com<\/a><\/p>\n

KEYWORDS:<\/b> California Massachusetts United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Construction & Property Other Retail Pets Landscape Home Goods Consumer Retail Agriculture Natural Resources<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Central Garden & Pet To Acquire Green Garden Acquisition Builds Further Scale in Garden Segment with Entry into Attractive Adjacent Category WALNUT CREEK, Calif.–(BUSINESS WIRE)– Central Garden & Pet (NASDAQ: CENT, CENTA) (\u201cCentral\u201d), a market leader in the Garden and Pet industries, announced today that it has signed an agreement to acquire Green Garden Products (\u201cGreen Garden\u201d), previously known as Plantation Products, for $532 million from private equity firm Freeman Spogli & Co and other shareholders. Green Garden, headquartered in Norton, Mass., is a leading provider of vegetable, herb and flower seed packets, seed starters and plant nutrients in North America, shipping over 250 million seed packets annually. The addition of Green Garden\u2019s leading brands will expand the Central portfolio … <\/p>\n

Continue reading “Central Garden & Pet To Acquire Green Garden”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-406890","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCentral Garden & Pet To Acquire Green Garden - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/central-garden-pet-to-acquire-green-garden\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Garden & Pet To Acquire Green Garden - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Central Garden & Pet To Acquire Green Garden Acquisition Builds Further Scale in Garden Segment with Entry into Attractive Adjacent Category WALNUT CREEK, Calif.–(BUSINESS WIRE)– Central Garden & Pet (NASDAQ: CENT, CENTA) (\u201cCentral\u201d), a market leader in the Garden and Pet industries, announced today that it has signed an agreement to acquire Green Garden Products (\u201cGreen Garden\u201d), previously known as Plantation Products, for $532 million from private equity firm Freeman Spogli & Co and other shareholders. Green Garden, headquartered in Norton, Mass., is a leading provider of vegetable, herb and flower seed packets, seed starters and plant nutrients in North America, shipping over 250 million seed packets annually. 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