CENTRAL GARDEN & PET CO acquired Budd Seed (KRB Seed Company, LLC) for Not disclosed, a transaction completed in May 2004, structured as all cash. The deal was a Asset purchase.
Budd Seed (KRB Seed Company, LLC) operates in Garden, is based in Winston-Salem, North Carolina, had revenue of about approximately $17 million net sales. KRB Seed Company, LLC (dba Budd Seed), based in Winston-Salem, North Carolina, is a leading provider of high-quality grass seed brands directed primarily toward major retail outlets under the Rebel and Palmer's Pride brands, with a strong regional presence in the Southeastern United States.
Adds the Rebel and Palmer's Pride premium grass-seed brands to Central's portfolio; Budd Seed had an existing licensing relationship with Central's Pennington Seed subsidiary.
Premium grass-seed brands (Rebel, Palmer's Pride) with strong Southeastern presence, complementary to Pennington. Internalizes a brand Pennington already licensed; broadens premium grass-seed offering to retail customers. Garden segment (Pennington Seed)
We are delighted to include the Rebel and Palmer's Pride brands into our premier portfolio. Additionally, Budd Seed and Pennington Seed have an excellent track record of doing business together and we are excited to have the Budd Seed management team join our company.Glenn Novotny, President and CEO, Central Garden & Pet
The acquisition of the Rebel brand is an exciting development for our major retail customers. Rebel enables us to offer a variety of programs, featuring one of the most respected brands of premium grass seed, to a broader base of consumers.Brooks Pennington III, President, Pennington Seed
Advisory firms were not disclosed for this transaction.