CENT - Central Garden & Pet announces $532M acquisition in garden line

Central Garden & Pet (CENT) has signed an agreement to acquire Norton based Green Garden Products for $532M from private equity firm Freeman Spogli & Co and other shareholders.Green Garden Products, previously known as Plantation Products, is a leading provider of vegetable, herb and flower seed packets, seed starters and plant nutrients in North America, shipping over 250M seed packets annually, with production and distribution facilities in Ohio, California and Manitoba, Canada.The acquisition is to expand the Central portfolio into an attractive adjacent garden category."Our new Central to Home strategy is focused on building further scale in our two operating segments (garden and pet) and meeting consumer and customer needs.....Moreover, we expect to leverage our strong merchandising, brand building and digital capabilities to grow sales for both Central and our retail partners," says Central's CEO Tim Cofer. The transaction is expected to close in Q2 2021, with more details on the acquisition to be disclosed in the company's Q1 earnings

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Central Garden & Pet announces $532M acquisition in garden line