HBSDaily

Central Garden & Pet Company has acquired Segrest Inc. for $60 million in cash.

Segrest is a wholesaler of aquarium fish and has been in business for 55 years. The acquisition is not expected to be dilutive to earnings in fiscal 2017 and accretive thereafter.

Insurance giant State Farm is promoting Iris from Lowe’s with a $75 off coupon to customers who buy the Iris Safe & Secure Kit.

The kit, which regularly sells for $179 before the discount, helps homeowners control lights, thermostats, door locks via smartphone and tablet. It also

Installing such a system, according to State Farm, might also make homeowners eligible for insurance discounts.

This latest promotion is part of a long running partnership between State Farm and Lowe’s. “

Central Garden & Pet announced the winners of its 2015 Vendor Awards, which took place at the Central Garden Distribution Dealer Show in Las Vegas.

The awards were presented prior to the show's opening on August 25:

Partner of the Year went to The Espoma Company; the Key Partnership Award went to Bloem; the Sales Excellence Award was awarded to H.D. Hudson; and the eBusiness Partner of the Year Award went to Dramm Corporation.

Central Garden & Pet Company had positive things to say about its performance in the first fiscal quarter of 2015: a 6% increase in sales and a narrowing of its net loss to $0.12 per share.

“We are beginning to see signs of progress from our efforts to improve our business and better utilize our resources,” said John Ranelli, president & CEO of Central Garden & Pet. “As a result of these efforts, our operations are becoming more efficient and we are executing better.”

Chelsea Building Products has hired Matthew Coulson as its research and development engineer specializing in proprietary PVC formulations. As part of Chelsea’s research department, Coulson will focus on the continued improvement of their PVC and composite PVC formulations.
 

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In the April issue of Hardware + Building Supply Dealer, 50 stores from 50 states are recognized for conduct becoming of an All Star.

That means they distinguish themselves to the people who matter most, customers in the communities they serve.

USG Corp. reported its strongest first-quarter results since 2007, and profitability in its L&W Supply division.

First-quarter net sales of $850 million were up 4% over the previous year period. Net income of $45 million compares with net income of $2 million in the first quarter of 2013.