CENTRAL GARDEN & PET CO acquired Arden Companies (remaining 55% interest) for approximately $11 million (for the remaining 55% interest; approximately $36 million of acquired long-term debt subsequently eliminated), a transaction completed in February 2019, structured as all cash.
Arden Companies (remaining 55% interest) operates in Garden, is based in United States. Arden Companies is a leading manufacturer and marketer of outdoor cushions and pillows in the United States, sold as private label through the largest big-box stores and as signature products. Central acquired the remaining 55% interest to take full ownership.
Brings the outdoor cushions and pillows business fully in-house, expanding Central's outdoor garden products portfolio.
Leading US outdoor cushions and pillows manufacturer. Adds outdoor decor products to Central's garden portfolio with established big-box distribution. Garden segment
During the second quarter of fiscal 2019, the Company acquired the remaining 55% interest in Arden Companies for approximately $11 million. Subsequent to the acquisition, approximately $36 million of cash was used to eliminate most of the acquired long-term debt. Financial results of Arden have been included in the results of operations within the Garden segment since the date of acquisition of the remaining 55% interest.Central Garden & Pet, FY21 10-K, Acquisitions note
Advisory firms were not disclosed for this transaction.