PRESS RELEASE
Published on July 1, 1996
[LETTERHEAD OF CENTRAL GARDEN & PET]
Corporate Office
3696 Mt. Diablo Blvd. Suite 310
Lafayette, CA 94549
(510) 283-4573
Fax (510) 283-4984
EXHIBIT 1.1
FOR IMMEDIATE RELEASE
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Contact: Gregory Reams
Central Garden & Pet
510/283-4573
Paul Verbinnen/Dan Connolly
Sard Verbinnen & Co
212/687-8080
CENTRAL GARDEN & PET COMPANY TO ACQUIRE KENLIN PET SUPPLY
CREATING NATION'S LARGEST DISTRIBUTOR OF PET SUPPLIES
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LAFAYETTE, CALIFORNIA, JUNE 18, 1996 --- Central Garden & Pet Company
(NASDAQ:CENT) today announced that it has entered into a definitive agreement to
acquire Kenlin Pet Supply, Inc., the largest distributor of pet supply products
in the eastern United States. Under the terms of the agreement, Central will
pay an aggregate of $33 million in cash to acquire or redeem all of Kenlin's
outstanding stock and eliminate all of its outstanding debt.
"The acquisition of Kenlin Pet Supply is an important leap forward for
Central's already successful pet supply operations, which have been focused
primarily in the western U.S.," said William Brown, Chairman and Chief Executive
Officer of Central Garden & Pet. "Similar to our lawn and garden business,
Central's pet supply business will now span coast-to-coast."
Brown added: "A key part of Central's business strategy has been to expand
its presence in the $12 billion pet supplies industry through internal growth
and strategic acquisitions. With the addition of Kenlin, we have taken a major
step toward fulfilling that goal."
Based in Mahwah, New Jersey and China Grove, North Carolina, Kenlin Pet
Supply has annual sales of approximately $70 million. Kenlin operates in 17
eastern states and has approximately 290 employees.
The acquisition is expected to close in July, however, consummation of the
acquisition is subject to a number of conditions, including expiration of the
applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act
of 1976.
Central Garden & Pet Company is the leading national distributor of lawn
and garden supply products, as well a major distributor of pet and pool
supplies.
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