Central Garden & Pet [NASDAQ: CENT] reported that the company entered into a contract to purchase Green Garden Products. The company will purchase Green Garden for $532M from Freeman Spogli & Co and other shareholders. This transaction extends the Centrals portfolio into a desirable adjacent category. Moreover, this acquisition will also aid in boosting the company’s connection with its major retailers.
Tim Cofer CEO of Central said “ We are glad to welcome Green Garden to Central’s Family. Our new strategy is concentrating on building further scale in two operational divisions and meeting the needs of clients and users. Adding Green Gardens’ trustworthy and well-known seeds will expand our portfolio and strengthen our connection with key retailers.
He further stated,” Additionally, we hope to use our strong marketing, brand building, and advanced abilities to develop sales deals for both Central and our retail accomplices.”