Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, May 12, 2023

Article Excerpt

CENTRAL GARDEN & PET CO., $36.78, symbol CENT on Nasdaq, provides 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 to grow both segments of its business. One major purchase was the February 2021 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 paid $532.0 million in cash for Green Garden. Meanwhile, in June 2022, the company’s pet segment launched GoodGood, a pet wellness brand, a group of four supplements meant to help dogs with their allergies, immune system, anxiety, hip and joints,…