Welcome to our dedicated page for Central Garden & Pet Co news (Ticker: CENT), a resource for investors and traders seeking the latest updates and insights on Central Garden & Pet Co stock.
Central Garden & Pet Company (NASDAQ: CENT) news coverage spans two distinct consumer markets: lawn and garden products and pet supplies. As a manufacturer with multiple established brands in both segments, the company generates news across product innovation, seasonal performance, strategic acquisitions, and retail partnerships.
Company news typically includes quarterly and annual earnings announcements that detail segment performance between Garden Products and Pet Products divisions. Investors follow these reports to understand how seasonal factors affect lawn and garden sales while monitoring the more stable pet supplies business. Financial results provide insight into consumer spending trends across both categories.
Product launches and brand developments represent another significant news category. Central Garden & Pet continuously introduces new offerings under brands like Nylabone, Kaytee, Pennington, and AMDRO. These announcements often highlight product innovation in response to consumer preferences, such as natural pest control solutions or premium pet care items that reflect the pet humanization trend.
Acquisition announcements merit particular attention given the company's history of growth through strategic purchases. News about acquired brands, integration progress, and expansion into new product categories helps investors understand how the company builds its portfolio. Partnership and sponsorship news also appears regularly as the company promotes its brands through various channels.
Bookmark this page to follow Central Garden & Pet developments including earnings releases, brand launches, acquisition news, and industry updates that affect this dual-segment consumer products company.
Central Garden & Pet (NASDAQ: CENT, CENTA) announced the closure of its acquisition of Green Garden Products for $532 million, funded by cash reserves and credit facilities. Green Garden, based in Norton, Massachusetts, is a leading provider of seed packets and plant nutrients, distributing over 250 million seed packets annually. CEO Tim Cofer emphasized the strategic significance of this acquisition, which enhances Central's portfolio in the garden segment and allows for leveraging their merchandising and digital capabilities. The acquisition marks a key expansion into a complementary market.
Central Garden & Pet Company (NASDAQ: CENT) announced a presentation at the Truist Consumer Symposium on February 23, 2021, at 11:00 AM ET. CEO Tim Cofer and CFO Niko Lahanas will share insights, available via audiocast on Central's Investor website.
With 2020 net sales of $2.7 billion, Central is committed to leading the pet and garden industries. The company boasts over 65 brands including Pennington and Nylabone, and employs over 6,300 staff across North America and Europe.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) reported a strong fiscal 2021 Q1, with net sales rising 22.7% to $592.2 million. Gross margin grew 70 basis points to 27.9%, while operating income soared to $27.0 million from $2.1 million in the previous year. The Pet segment's sales increased 19.0%, and the Garden segment saw a significant 34.1% rise. Net income turned positive at $5.6 million, up from a loss of $4.4 million. Cash balance rose 36.4% to $608.3 million, although total debt increased to $789.0 million due to refinancing.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) will release its financial results for Q1 fiscal 2021 on February 3, 2021, after trading hours. A conference call to discuss these results and provide a business update will follow at 4:30 p.m. ET. Central reported net sales of $2.7 billion in 2020, showcasing its commitment to leading the pet and garden industries. The company boasts a portfolio of over 65 brands and over 6,300 employees, emphasizing its significant market presence in North America and Europe.
Central Garden & Pet (NASDAQ: CENT, CENTA) has acquired DoMyOwn.com, enhancing its position in the control product market. This acquisition fortifies Central's eCommerce capabilities and expands its offerings in professional-grade control products. With a focus on customer service and digital growth, Central aims to meet rising eCommerce demands. The transaction, which closed on December 18, 2020, details including purchase price remain undisclosed. Central reported 2020 net sales of $2.7 billion and operates over 65 high-quality brands.
Green Garden Products has announced it will be acquired by Central Garden & Pet (NASDAQ: CENT, CENTA) for $532 million. The transaction is expected to finalize in Q1 2021, pending regulatory approval. This acquisition reflects Green Garden's significant growth, positioning it as the largest seed and seed starting company in North America. Central aims to enhance its portfolio with Green Garden's reputable brands, expanding into the seed market and leveraging its digital capabilities to drive sales. The deal is facilitated by partnerships with Freeman Spogli & Co. and William Blair.
Central Garden & Pet (NASDAQ: CENT, CENTA) has agreed to acquire Green Garden Products for $532 million from Freeman Spogli & Co. Green Garden, located in Norton, Mass., is a leading supplier of seed packets and plant nutrients, with over 250 million packets shipped annually. The acquisition aims to expand Central's portfolio into an adjacent garden category and strengthen relationships with major retailers. The deal is expected to close in the second quarter of fiscal 2021, pending regulatory approval. Central reported 2020 net sales of $2.7 billion, emphasizing its commitment to growth in the pet and garden sectors.
Central Garden & Pet (NASDAQ: CENT, CENTA) has announced its acquisition of Hopewell Nursery, a prominent live goods grower in the Northeast. This strategic move aims to enhance Central's position in the live goods market, following its successful acquisition of Bell Nursery in 2018. Hopewell, established in 1988 and located in Bridgeton, NJ, manages over 1,800 acres and offers over 2,000 plant varieties. The deal is set to close on December 31, 2020. Financial terms remain undisclosed.
Central Garden & Pet (NASDAQ: CENT) has launched a new venture fund named Central Ventures, aimed at fostering innovation in the garden and pet industries. This initiative is part of the company's 'Central to Home' strategy, unveiled at its first Investor Day. The fund will invest in early-stage North American businesses focusing on Sustainability, Health & Wellness, and Digital Connectivity, with investments ranging from $250,000 to $2 million. The team will be led by Jon Balousek, the new President of Corporate Development, enhancing Central's existing portfolio of successful investments.
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