Central Garden & Pet to Acquire Leading Dog & Cat Bedding Business

WALNUT CREEK, Calif.–(BUSINESS WIRE)–Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA), a leading
innovator, marketer and producer of quality branded products for the
lawn and garden and pet supplies markets, announced today that it has
purchased the pet bedding business and certain other assets of National
Consumers Outdoors Corp., formerly known as Dallas Manufacturing Company
(DMC), for a cash purchase price of $61 million.

“We are excited to acquire the industry-leading dog and cat bedding
company. Bedding is the fifth largest category in dog and cat supplies
and is growing at a healthy rate,” said John Ranelli, CEO & President of
Central Garden & Pet. “The acquisition fits right into our strategy of
building a portfolio of growing businesses and categories, and is a
strong complement to Central’s current broad portfolio of pet products.”
Ranelli continued, “The DMC business is known for providing top-quality
products and service, which is the cornerstone of Central’s strategy and
the same commitment we make to our customers and consumers.” Ranelli
concluded, “We are pleased to be bringing DMC’s capable and experienced
management team into the Central family.”

About Central Garden & Pet

Central Garden & Pet Company is a leading innovator, marketer and
producer of quality branded products for the lawn & garden and pet
supplies markets. Committed to new product innovation, our products are
sold to specialty independent and mass retailers. Participating
categories in Lawn & Garden include: Grass seed and the brands
PENNINGTON®, and THE REBELS®; wild bird feed and the brand PENNINGTON®;
weed and insect control and the brands AMDRO®, SEVIN®, IRONITE® and
OVER-N-OUT®; and decorative outdoor patio products under the PENNINGTON®
brand. We also provide a host of other regional and application-specific
garden brands and supplies. Participating categories in Pet include:
Animal health and the brands ADAMS™ and ZODIAC®; aquatics and reptile
and the brands AQUEON®, CORALIFE® and ZILLA®; bird & small animal and
the brands KAYTEE®, Forti-Diet® and CRITTER TRAIL®; dog & cat and the
brands TFH™, NYLABONE®, FOUR PAWS®, IMS™, PINNACLE® and AVODERM®; and
equine and the brands FARNAM®, HORSE HEALTH™ and VITAFLEX®. We also
provide a host of other application-specific pet brands and supplies.
Central Garden & Pet Company is based in Walnut Creek, California, and
has approximately 3,300 employees, primarily in North America. For
additional information on Central Garden & Pet Company, including access
to the Company’s SEC filings, please visit the Company’s website at www.central.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform
Act of 1995: The statements contained in this release which are not
historical facts, including the expected closing date, are
forward-looking statements that are subject to risks and uncertainties
that could cause actual results to differ materially from those set
forth in or implied by forward-looking statements. All forward-looking
statements are based upon the Company’s current expectations and various
assumptions. There are a number of risks and uncertainties that could
cause our actual results to differ materially from the forward-looking
statements contained in this release including, but not limited to, the
following factors:

  • failure of the acquired business to achieve expected results;
  • seasonality and fluctuations in the Company’s operating results and
    cash flow;
  • fluctuations in market prices for seeds and grains and other raw
    materials and the Company’s ability to pass through cost increases in
    a timely manner;
  • adverse weather conditions;
  • dependence on a small number of customers for a significant portion of
    our business;
  • uncertainty about new product innovations and marketing programs;
  • dependence upon key executives and the ability to execute on our
    succession plan; and
  • competition in our industries.

These risks and others are described in Central’s Securities and
Exchange Commission filings. Central undertakes no obligation to
publicly update these forward-looking statements to reflect new
information, subsequent events or otherwise.

Contacts

Central Garden & Pet Company
Steven Zenker, 925-948-3657
Vice
President of Investor Relations & Communications