Central Garden & Pet Acquires Bell Nursery
14 March 2018 - 10:00PM
Business Wire
Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA),
a leading innovator, producer, and distributor of branded and
private label products for the lawn & garden and pet supplies
markets, announced today that it has purchased Bell Nursery
Holdings, LLC, the largest commercial grower of flowers and plants
in the mid-Atlantic. Bell is headquartered in Maryland and has
facilities in North Carolina, Virginia, Maryland, Ohio and
Delaware. The Company expects the acquisition to be accretive in
fiscal 2018.
“We are excited to add Bell Nursery’s live plant business to
Central’s broad garden products portfolio,” said George Roeth,
President & CEO of Central Garden & Pet. “We view the live
plant area as an attractive growth opportunity that is growing
faster than the overall garden industry and is synergistic with our
existing garden portfolio. In addition, Bell’s focus on quality and
excellence in customer service are compatible with Central’s way of
doing business. We look forward to working with the management team
at Bell, who are remaining with the company, to grow the business
profitably in the years ahead.”
About Central Garden & Pet
Central Garden & Pet Company is a leading innovator,
producer and distributor of branded and private label 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®, and OVER-N-OUT®; fertilizer and the
brands PENNINGTON® and IRONITE®; 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™, COMFORT ZONE®, FARNAM®, HORSE HEALTH™ and VITAFLEX®;
aquatics and reptile and the brands AQUEON®, CORALIFE®, SEGREST™
and ZILLA®; bird & small animal and the brands KAYTEE®,
Forti-Diet® and CRITTER TRAIL®; and dog & cat and the brands
TFH™, NYLABONE®, FOUR PAWS®, IMS™, CADET®, DMC™, K&H Pet
Products®, PINNACLE® and AVODERM®. 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 4,200 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 accretive impact
on earnings, forecasted growth rates for live plant sales and
expectations for profitable growth, 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;
- our ability to integrate the acquired
business;
- seasonality and fluctuations in the
Company’s operating results and cash flow;
- adverse weather conditions;
- dependence on a small number of
customers for a significant portion of Bell Nursery’s
business;
- uncertainty about new product
innovations and marketing programs;
- dependence upon key executives and the
ability to retain the Bell Nursery management; 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180314005244/en/
Central Garden & Pet CompanySteven Zenker, 925-948-3657VP
Finance - Investor Relations, FP&A and Communications
Central Garden and Pet (NASDAQ:CENT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Central Garden and Pet (NASDAQ:CENT)
Historical Stock Chart
From Jul 2023 to Jul 2024