Central Garden & Pet to Acquire Leading Dog & Cat Bedding Business
02 December 2015 - 9:01AM
Business Wire
Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA),
a leading innovator, marketer and producer of quality branded
products for the lawn and garden and pet supplies markets,
announced today that it has purchased the pet bedding business and
certain other assets of National Consumers Outdoors Corp., formerly
known as Dallas Manufacturing Company (DMC), for a cash purchase
price of $61 million.
“We are excited to acquire the industry-leading dog and cat
bedding company. Bedding is the fifth largest category in dog and
cat supplies and is growing at a healthy rate,” said John Ranelli,
CEO & President of Central Garden & Pet. “The acquisition
fits right into our strategy of building a portfolio of growing
businesses and categories, and is a strong complement to Central’s
current broad portfolio of pet products.” Ranelli continued, “The
DMC business is known for providing top-quality products and
service, which is the cornerstone of Central’s strategy and the
same commitment we make to our customers and consumers.” Ranelli
concluded, “We are pleased to be bringing DMC’s capable and
experienced management team into the Central family.”
About Central Garden & Pet
Central Garden & Pet Company is a leading innovator,
marketer and producer of quality branded products for the lawn
& garden and pet supplies markets. Committed to new product
innovation, our products are sold to specialty independent and mass
retailers. Participating categories in Lawn & Garden include:
Grass seed and the brands PENNINGTON®, and THE REBELS®; wild bird
feed and the brand PENNINGTON®; weed and insect control and the
brands AMDRO®, SEVIN®, IRONITE® and OVER-N-OUT®; and decorative
outdoor patio products under the PENNINGTON® brand. We also provide
a host of other regional and application-specific garden brands and
supplies. Participating categories in Pet include: Animal health
and the brands ADAMS™ and ZODIAC®; aquatics and reptile and the
brands AQUEON®, CORALIFE® and ZILLA®; bird & small animal and
the brands KAYTEE®, Forti-Diet® and CRITTER TRAIL®; dog & cat
and the brands TFH™, NYLABONE®, FOUR PAWS®, IMS™, PINNACLE® and
AVODERM®; and equine and the brands FARNAM®, HORSE HEALTH™ and
VITAFLEX®. We also provide a host of other application-specific pet
brands and supplies. Central Garden & Pet Company is based in
Walnut Creek, California, and has approximately 3,300 employees,
primarily in North America. For additional information on Central
Garden & Pet Company, including access to the Company's SEC
filings, please visit the Company’s website at www.central.com.
“Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained in this release which
are not historical facts, including the expected closing date, are
forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those set forth in or implied by forward-looking statements.
All forward-looking statements are based upon the Company’s current
expectations and various assumptions. There are a number of risks
and uncertainties that could cause our actual results to differ
materially from the forward-looking statements contained in this
release including, but not limited to, the following factors:
- failure of the acquired business to
achieve expected results;
- seasonality and fluctuations in the
Company’s operating results and cash flow;
- fluctuations in market prices for seeds
and grains and other raw materials and the Company’s ability to
pass through cost increases in a timely manner;
- adverse weather conditions;
- dependence on a small number of
customers for a significant portion of our business;
- uncertainty about new product
innovations and marketing programs;
- dependence upon key executives and the
ability to execute on our succession plan; and
- competition in our industries.
These risks and others are described in Central’s Securities and
Exchange Commission filings. Central undertakes no obligation to
publicly update these forward-looking statements to reflect new
information, subsequent events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20151201006808/en/
Central Garden & Pet CompanySteven Zenker, 925-948-3657Vice
President of Investor Relations & Communications
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