CENTRAL GARDEN & PET CO acquires Hopewell Nursery

CENTRAL GARDEN & PET CO acquired Hopewell Nursery for approximately $81 million, a transaction completed in December 2020, structured as all cash. The deal was a Asset purchase.

Hopewell Nursery operates in Garden, is based in Northeastern United States. Hopewell Nursery is a leading live-goods grower of flowers, shrubs and plants serving home and garden centers across the Northeast. Central purchased substantially all of Hopewell Nursery's assets.

Strengthens the Company's position as a leading live-goods provider in the garden category, complementing Bell Nursery in the Northeast and mid-Atlantic.

Leading live-goods grower extending Central's plant-supply position in the Northeast. Combined with Bell Nursery, makes Central the primary plant supplier to Home Depot across the Northeast and mid-Atlantic. Garden segment (live goods)

On December 31, 2020, the Company purchased substantially all of the assets of Hopewell Nursery, a leading live goods grower serving home and garden centers across the Northeast, for approximately $81 million. The purchase price exceeded the estimated fair value of the net tangible assets acquired by approximately $15 million, of which approximately $4.1 million was allocated to identified intangible assets and approximately $10.9 million was included in goodwill. With Bell Nursery as well as Hopewell Nursery, the Company is the primary supplier of superior quality flowers, shrubs and other plants to Home Depot in the Northeast and mid-Atlantic region.Central Garden & Pet, FY21 10-K, Acquisitions note

Advisory firms were not disclosed for this transaction.

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