Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 15, 2021

Article Excerpt

CENTRAL GARDEN & PET CO., $40.98, symbol CENT on Nasdaq, is a provider of a range of products to pet owners, and residential and commercial gardeners. Central’s more than 65 brands include Pennington, Nylabone, Kaytee, Amdro and Aqueon. Founded in 1980, the company has made several acquisitions over the years to grow both segments of its business. Most recently, on December 31, 2020, it announced the acquisition of Green Garden Products, a Massachusetts-based provider of vegetable, herb, and flower seeds, as well as seed starters and plant nutrients. It ships more than 250 million seed packets annually to customers across North America. Green Garden’s portfolio of brands includes Ferry-Morse Home Gardening, Jiffy Seed Starting, SUPERthrive Plant Nutrients, Livingston Seeds, Jiffy Hydro Hydroponics, McKenzie Seed, American Seed and NK Lawn and Garden. Central is paying $532.0 million in cash for Green Garden, which is currently owned by Freeman & Spogli, a private equity firm with $4.4 billion in assets under management. Green Garden was previously called Plantation Products, and Freeman & Spogli…

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