Central Garden and Pet (NASDAQ:CENT)
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Central Garden & Pet Company (NASDAQ:CENT) today
announced that it acquired the rights to the Ironite(R) Products brand
of natural soil supplements and intellectual property for
approximately $6 million.
Ironite, a registered trademark since 1956, is a leading producer
of environmentally-friendly soil supplements that promote healthy
plant color and deeper root structures.
"Ironite is a leading, well-respected brand in natural gardening,"
commented Glenn Novotny, President and Chief Executive Officer of
Central Garden & Pet. "This acquisition is consistent with our
strategy to build a portfolio of leading, highly efficacious branded
products featuring the latest technology in active ingredients."
In 2005, Ironite generated net sales of approximately $9 million
and Central has historically served as Ironite's leading distributor.
The acquisition is expected to be neutral to fiscal 2006 earnings, and
add approximately 2-3 cents to fiscal 2007 earnings.
"Ironite's all-natural products enable professional landscapers
and gardening enthusiasts to grow healthier lawns and plants by
replenishing vital trace elements in the soil," concluded Mr. Novotny.
"We are pleased that Heinz Brungs, the founder of Ironite will
continue to work with Central to develop and market the next
generation of environmentally-friendly products for consumers and
professionals."
Central Garden & Pet Company is a leading innovator, marketer and
producer of quality branded products for the pet and lawn and garden
supplies markets. Our pet products include pet bird and small animal
food, aquarium products, flea, tick, mosquito and other pest control
products, edible bones, cages, carriers, pet books, and other dog,
cat, reptile and small animal products. These products are sold under
a number of brand names, including Kaytee, SuperPet, All-Glass
Aquarium, Oceanic, Kent Marine, Energy Savers Unlimited, Zodiac,
Pre-Strike, Altosid, Nylabone, TFH, Four Paws, Interpet, Breeder's
Choice and Farnam. Our lawn and garden products include grass seed,
wild bird food, weed and insect control products, and decorative
outdoor patio products. These products are sold under a number of
brand names, including Pennington, Norcal Pottery, New England
Pottery, GKI/Bethlehem Lighting, Lilly Miller, Matthews Four Seasons,
Cedar Works, AMDRO, Grant's, Sevin and Over'n Out. For additional
information on Central Garden & Pet, including access to the Company's
SEC filings, please visit the Company's website at
http://www.central.com/.