Central Garden & Pet to Acquire Leading Dog & Cat Bedding Business

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WALNUT CREEK, Calif.--(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.

Central Garden & Pet Company
Steven Zenker, 925-948-3657
Vice President of Investor Relations & Communications

Source: Central Garden & Pet Company

Released December 1, 2015