CENTRAL GARDEN & PET CO acquired Tech Pac, L.L.C. (majority equity interest) for Not disclosed (within Central's stated criteria of 5-to-7x trailing twelve months operating income), a transaction completed in March 2006, structured as all cash.
Tech Pac, L.L.C. (majority equity interest) operates in Garden, is based in United States. Tech Pac, L.L.C. is a leading supplier of insect-control branded products in the lawn and garden marketplace, including Sevin (broad-based insecticide), Over'n Out! (fire ant control) and RooTone (root stimulant). Central increased its equity interest from 20% to 80%.
Increased investment strengthens Central's portfolio of leading lawn & garden control brands and access to next-generation active-ingredient technologies.
Control of active-ingredient supply behind Central's leading garden control brands. Greater control over next-generation active-ingredient technology and brand awareness. Garden segment
Our increased investment in Tech Pac strengthens our portfolio of leading lawn & garden control brands. The majority interest enables us to increase the awareness of both the Sevin, Over'n Out! and RooTone brands and our access to next generation active ingredient technologies to develop and introduce new control products with superior efficacy.Glenn Novotny, President and CEO, Central Garden & Pet
Advisory firms were not disclosed for this transaction.