PRESS RELEASE DATED JANUARY 28, 2002
Published on January 28, 2002
EXHIBIT 99.1
[LOGO OF CENTRAL GARDEN & PET]
Corporate Office
3697 Mt. Diablo Blvd., Suite 310
Lafayette, CA 94549
(925) 283-4573
Fax (925) 283-4984
FOR IMMEDIATE RELEASE
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Contact: Gregory Reams
Central Garden & Pet
(925) 283-4573
CENTRAL GARDEN & PET SETTLES LITIGATION
WITH MONSANTO
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LAFAYETTE, CALIFORNIA, January 28, 2002-- Central Garden & Pet Company
(NASDAQ: CENT) today announced the settlement of all litigation with Monsanto
(NYSE: MON) related to its distributorship of lawn and garden products for the
former Monsanto Company during the 1990s. Under the terms of the settlement
agreement, Central will pay Monsanto $5.5 million. The settlement agreement
resolves payments due from Central for lawn and garden products previously
shipped, and provides for Central's Pennington subsidiary to purchase $2 million
of Monsanto's glyphosate material during the next 30 months under an existing
supply agreement with Monsanto. This settlement does not affect the litigation
presently pending between Central and The Scotts Company.
Central Garden & Pet Company is a leading producer of consumer garden
and pet products. Central's proprietary branded products include Pennington
Seed(R), AMDRO(R), Maxide(R), Strike(R), Lilly Miller(R), Grant's(R), and
Matthews(R) Four Seasons garden products, and All-Glass(R), Oceanic Systems(R),
Island(R), Kaytee(R), TFH(R), Nylabone(R), Zodiac(R), and Four Paws(R) pet
products. For additional information on Central Garden & Pet, including access
to the Company's SEC filings, please visit the Company's website at
http://www.centralgardenandpet.com.
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