Central Garden & Pet Announces Acquisition of General Pet Supply
WALNUT CREEK, Calif.--(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 it has signed a binding agreement to acquire all business assets of General Pet Supply, a leading Midwestern U.S. supplier of pet food and supplies. Central previously had a partnership alliance with General Pet Supply serving different regions of the country. The acquisition is expected to close in early April 2018.
“The addition of General Pet Supply gives our company unparalleled distribution capabilities in the Pet industry,” said George Roeth, CEO & President of Central Garden & Pet. “The acquisition is important to us strategically as it fills out our national footprint, expands our food distribution business, and provides us access to the veterinary channel.” Roeth continued, “We are very excited to welcome General Pet’s management team and employees to the Central family. Our common approach to business, shared values, and entrepreneurial spirit will ensure that we continue to enhance the service and selection of pet foods and supplies that we provide to all our customers.”
With the industry’s largest annual trade show taking place the week of March 19th, Central is looking forward to discussing this important development with its current and future customers and vendor partners. The combination of Central Pet Distribution and General Pet Supply creates a unique strategic platform for retailers and brands alike.
Contact either of the following to schedule meetings at or following Global Pet Expo:
|Keith Bornholtz, President||Bob Merar, President|
Central Pet Distribution
|General Pet Supply|
|(925) 948-2722||(414) 410-6233|
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 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;
- 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 retain the General Pet Supply 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.
Central Garden & Pet Company
Steven Zenker, 925-948-3657
VP Finance – Investor Relations, FP&A and Communications
Source: Central Garden & Pet Company
Released March 15, 2018