Welcome to our dedicated page for Central Garden and Pet Co news (Ticker: CENT), a resource for investors and traders seeking the latest updates and insights on Central Garden and Pet Co stock.
Central Garden & Pet Co (symbol: CENT) is a leading innovator, marketer, and producer of quality branded products for both consumer and professional use in the lawn and garden, as well as pet supplies markets. For over forty years, Central Garden & Pet Co has been dedicated to helping consumers beautify their outdoor living spaces and fostering healthy relationships with their pets.
The company operates through two primary segments: the Pet Segment and the Garden Segment. Central Garden & Pet's extensive product portfolio includes over sixty-five trusted brands such as Pennington, Nylabone, Kaytee, Amdro, and Aqueon. These brands are known for their high-quality, innovative products aimed at promoting greener lawns, bigger blooms, healthier pets, and stronger communities.
Headquartered in Walnut Creek, California, Central Garden & Pet Co also boasts manufacturing and distribution facilities across North America and Europe. The company's commitment to innovation, quality, and service forms the foundation of its success, supported by a passionate team with an entrepreneurial growth mindset.
In recent news, Central Garden & Pet Co continues to expand its market presence and product offerings. Updates from its various brands and segments highlight ongoing projects and achievements, reinforcing the company's role as a leader in the lawn and garden and pet supplies markets.
Central Garden & Pet Co remains committed to nurturing happy and healthy homes, making it an essential player in the industry for consumers and professionals alike.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) announced a private placement of $400 million senior notes due 2031 with a 4.125% interest rate. The offering is expected to close on April 30, 2021. Proceeds will be used to repay amounts under its senior secured revolving credit facility and for general corporate purposes. The notes will be guaranteed by Central's domestic restricted subsidiaries and are not registered under the Securities Act, limiting their offering to qualified institutional buyers.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) has initiated a private placement of $400 million in senior notes due 2031. These notes will be guaranteed by Central's domestic subsidiaries and proceeds will be used to pay down its senior secured revolving credit facility and other corporate purposes. The offering is targeted at qualified institutional buyers and is exempt from registration under the Securities Act. With 2020 net sales reported at $2.7 billion, Central continues to focus on leading the pet and garden industries.
Pennington Seed, a major player in lawn and garden products and a subsidiary of Central Garden & Pet (NASDAQ: CENT, CENTA), announced the relaunch of its Smart Seed line, emphasizing drought resistance and user-friendliness. This initiative follows two years of research and aims to enhance germination rates and grass quality through a new fertilizer-enhanced seed coating. The updated product line includes various grass mixes and will be supported by a comprehensive marketing campaign, 'Smart That Never Fails,' to aid consumer awareness and usability.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) has announced that CFO Niko Lahanas will present at the virtual BofA Securities 2021 Consumer and Retail Technology Conference on March 9, 2021, at 12:30 p.m. Eastern Time. Interested parties can access the live audiocast on Central's website. With over 40 years of experience, Central generated $2.7 billion in net sales in 2020 and is committed to enhancing the pet and garden industries through its innovative product portfolio, which includes over 65 trusted brands.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) announced participation in virtual conferences. CFO Niko Lahanas will present at the J.P. Morgan Global High Yield & Leveraged Finance Conference on March 1, 2021, at 2:00 PM ET, with materials available on their website. He will also present at the Raymond James 42nd Annual Institutional Investors Conference on March 2, 2021, at 4:40 PM ET, which will include a live audiocast. The company reported $2.7 billion in net sales in 2020, showcasing a robust portfolio and commitment to the pet and garden industries.
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.
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