New owner for Green Garden Products
Central Garden & Pet signed a deal to acquire Green Garden Products, previously known as Plantation Products, for $532 million from private equity firm Freeman Spogli & Co and other shareholders.
Green Garden, headquartered in Norton, Mass., is a provider of vegetable, herb and flower seed packets, seed starters and plant nutrients, shipping over 250 million seed packets annually. Central Garden & Pet says the addition of Green Garden’s leading brands will expand the Central portfolio into an attractive adjacent category and strengthen the Company’s relationship with major retailers.
“We are thrilled to welcome Green Garden into the Central Garden & Pet team upon closing,” said Tim Cofer, CEO of Central. “Our new Central to Home strategy is focused on building further scale in our two operating segments and meeting consumer and customer needs. Adding Green Garden’s well-known and trusted seed and seed starting brands for vegetables, herbs and flower gardens will expand our portfolio into an attractive adjacent garden category and will strengthen our footprint with key retail customers. Moreover, we expect to leverage our strong merchandising, brand building and digital capabilities to grow sales for both Central and our retail partners.”
Established in 1980, Green Garden currently employs over 180 full-time employees. The company’s brands date back to the mid-1800s and include Ferry-Morse, Jiffy, McKenzie Seed, and others.
“We are excited to bring our existing seed and seed starter business to Central Garden & Pet,” said Michael Pietrasiewicz, President and CEO of Green Garden. “Our quest for innovative ideas which leads us to develop new products that help home gardeners and outdoor hobbyists enjoy their passion and be more successful coupled with Central’s expertise in the lawn and garden segment will be key to grow our business further.”
The transaction is expected to close in the second quarter of fiscal 2021, subject to customary closing conditions, including regulatory approval.
William Blair served as financial advisor to Green Garden and Morgan, Lewis & Bockius LLP acted as the legal advisor. Orrick, Herrington & Sutcliffe LLP served as the legal advisor to Central.