Central Garden & Pet Acquires Ironite Products Brand; Leading Brand of Natural Soil Supplements Expands Portfolio of Highly Eff
25 April 2006 - 7:00AM
Business Wire
Central Garden & Pet Company (NASDAQ:CENT) today announced that
it acquired the rights to the Ironite(R) Products brand of natural
soil supplements and intellectual property for approximately $6
million. Ironite, a registered trademark since 1956, is a leading
producer of environmentally-friendly soil supplements that promote
healthy plant color and deeper root structures. "Ironite is a
leading, well-respected brand in natural gardening," commented
Glenn Novotny, President and Chief Executive Officer of Central
Garden & Pet. "This acquisition is consistent with our strategy
to build a portfolio of leading, highly efficacious branded
products featuring the latest technology in active ingredients." In
2005, Ironite generated net sales of approximately $9 million and
Central has historically served as Ironite's leading distributor.
The acquisition is expected to be neutral to fiscal 2006 earnings,
and add approximately 2-3 cents to fiscal 2007 earnings. "Ironite's
all-natural products enable professional landscapers and gardening
enthusiasts to grow healthier lawns and plants by replenishing
vital trace elements in the soil," concluded Mr. Novotny. "We are
pleased that Heinz Brungs, the founder of Ironite will continue to
work with Central to develop and market the next generation of
environmentally-friendly products for consumers and professionals."
Central Garden & Pet Company is a leading innovator, marketer
and producer of quality branded products for the pet and lawn and
garden supplies markets. Our pet products include pet bird and
small animal food, aquarium products, flea, tick, mosquito and
other pest control products, edible bones, cages, carriers, pet
books, and other dog, cat, reptile and small animal products. These
products are sold under a number of brand names, including Kaytee,
SuperPet, All-Glass Aquarium, Oceanic, Kent Marine, Energy Savers
Unlimited, Zodiac, Pre-Strike, Altosid, Nylabone, TFH, Four Paws,
Interpet, Breeder's Choice and Farnam. Our lawn and garden products
include grass seed, wild bird food, weed and insect control
products, and decorative outdoor patio products. These products are
sold under a number of brand names, including Pennington, Norcal
Pottery, New England Pottery, GKI/Bethlehem Lighting, Lilly Miller,
Matthews Four Seasons, Cedar Works, AMDRO, Grant's, Sevin and
Over'n Out. For additional information on Central Garden & Pet,
including access to the Company's SEC filings, please visit the
Company's website at http://www.central.com/.
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