Central Garden & Pet Acquires Bell Nursery
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 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.
Central Garden & Pet Company
Steven Zenker, 925-948-3657
VP Finance - Investor Relations, FP&A and Communications
Source: Central Garden & Pet Company
Released March 14, 2018