Central Garden & Pet Co., Walnut Creek, Calif., said on Feb. 16 that it closed the previously announced acquisition of Green Garden Products (GM Jan. 1, p. 1), formerly known as Plantation Products, from private-equity firm Freeman Spogli & Co. Green Garden, headquartered in Norton, Mass., is a leading provider of vegetable, herb and flower seed packets, seed starters, and plant nutrients in North America, shipping over 250 million seed packets annually.
“By adding Green Garden’s leading brands for vegetable, herb and flower seed, and seed starter packages, we are entering an important adjacent category in the garden segment,” Tim Cofer, Central Garden CEO. “With Green Garden now being an official part of the Central team, we look forward to growing their business, leveraging our strong merchandising, brand building, and digital capabilities.”
Under the terms of the merger agreement, the company paid a total of $532 million, subject to certain post-closing adjustments. The acquisition was financed through cash on hand and borrowings under the company’s credit facility.