Central Garden & Pet Acquires DoMyOwn.com

Rhea-AI Summary

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.

Positive

• Strengthens position in the control product market.
• Enhances eCommerce capabilities with DoMyOwn’s platform.
• Supports Central's strategy to meet consumer needs and digital growth.

Negative

• None.

Central Garden & Pet (NASDAQ: CENT, CENTA) (“Central”), a market leader in the Garden and Pet industries, announced today that it has acquired DoMyOwn.com (“DoMyOwn”), a leading and fast-growing online retailer of professional-grade control products in the United States. The addition of DoMyOwn’s professional-grade control business strengthens the Company’s position in the control product category. In addition, it brings to Central a best-in-class eCommerce fulfillment platform and digital capabilities strengthening the Company’s ability to service the growing eCommerce needs of both consumers and retail customers’ omnichannel platforms.

“We are pleased to welcome DoMyOwn into the Central Garden & Pet organization,” said Tim Cofer, CEO of Central. “Our new Central to Home strategy is focused on meeting consumer needs, strengthening customer partnerships, building scale in core categories and adding key digital capabilities. Combining DoMyOwn’s leading online platform for eCommerce fulfillment with our leadership in pest control products is another exciting step in executing our strategy.”

Family-owned by Michael and Philip Gossling, DoMyOwn was founded in Norcross, GA, in 2004, initially focusing on selling professional-grade control products online. The company added turf and ornamental products in 2012. In 2017, DoMyOwn expanded its geographic footprint with warehouse additions in Utah and expanded into pet and equine products. With a digitally driven management team and approximately 70 employees passionate about customer service, the company is one of the largest dedicated online and wholesale supplier of professional-grade control products for do-it-yourself consumers.

“We founded the company with one mission: to provide our customers and their families with the most effective solution to fight their immediate pest problem,” said Michael Gossling, co-founder and CEO of DoMyOwn. “We are thrilled to bring our expertise in online retail and fulfilment and our strong consumer focus to Central Garden & Pet.”

The transaction closed on December 18, 2020. Purchase price and other terms of the transaction were not disclosed.

About Central Garden & Pet

Central Garden & Pet (NASDAQ: CENT, CENTA) understands that home is central to life and has proudly nurtured happy and healthy homes for over 40 years. With 2020 net sales of $2.7 billion, Central is on a mission to lead the future of the pet and garden industries. The Company’s innovative and trusted products are dedicated to help lawns grow greener, gardens bloom bigger, pets live healthier and communities grow stronger. Central is home to a leading portfolio of more than 65 high-quality brands including Pennington, Nylabone, Kaytee, Amdro and Aqueon, strong manufacturing and distribution capabilities and a passionate, entrepreneurial growth culture. Central Garden & Pet is based in Walnut Creek, California and has over 6,300 employees across North America and Europe. For additional information about Central, please visit the Company’s website at www.central.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. All statements, other than statements of historical fact, could be deemed forward-looking statements. Statements in this press release concerning Central’s business, strategy and focus; the acquisition of DoMyOwn.com; the ability to build scale in the pest control category and add key digital capabilities; and our overall future prospects are forward-looking statements that involve a number of uncertainties and risks. Actual results or events could differ materially from those anticipated in those forward-looking statements as a result of several factors, including, without limitation, our ability to close the contemplated acquisition in a timely basis or at all, our ability to integrate the acquired company, potential benefits of the transaction to Central and our customers, and other factors listed in our annual report on Form 10-K filed with the Securities and Exchange Commission. All statements made in this press release are made only as of the date of this press release. Central undertakes no obligation to update the information in this press release in the event facts or circumstances subsequently change after the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005859/en/

FAQ

What is the significance of Central Garden & Pet's acquisition of DoMyOwn.com?

The acquisition strengthens Central's position in the control product category and enhances its eCommerce capabilities.

When did Central Garden & Pet acquire DoMyOwn.com?

The transaction closed on December 18, 2020.

What impact does the acquisition of DoMyOwn have on Central Garden & Pet's business?

It enhances product offerings and supports Central’s strategy for digital growth and customer service.

What was Central Garden & Pet's net sales in 2020?

Central reported net sales of $2.7 billion in 2020.

Does the press release provide financial details about the acquisition?

No, the purchase price and other terms of the transaction were not disclosed.