Central Garden & Pet Acquires Ironite Products Brand; Leading Brand of Natural Soil Supplements Expands Portfolio of Highly Efficacious Branded Products Consistent With Previously Outlined Acquisition Strategy.WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif. -- Central Garden & Pet Company (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CENT) today announced that it acquired the rights to the Ironite(R) Products brand of natural soil supplements and intellectual property for approximately $6 million. Ironite, a registered trademark since 1956, is a leading producer of environmentally-friendly soil supplements that promote healthy plant color and deeper root structures. "Ironite is a leading, well-respected brand in natural gardening," commented Glenn Novotny, President and Chief Executive Officer of Central Garden & Pet. "This acquisition is consistent with our strategy to build a portfolio of leading, highly efficacious ef·fi·ca·cious adj. Producing or capable of producing a desired effect. See Synonyms at effective. [From Latin effic branded products featuring the latest technology in active ingredients." In 2005, Ironite generated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of approximately $9 million and Central has historically served as Ironite's leading distributor. The acquisition is expected to be neutral to fiscal 2006 earnings, and add approximately 2-3 cents to fiscal 2007 earnings. "Ironite's all-natural products enable professional landscapers and gardening enthusiasts to grow healthier lawns and plants by replenishing vital trace elements Trace elements A group of elements that are present in the human body in very small amounts but are nonetheless important to good health. They include chromium, copper, cobalt, iodine, iron, selenium, and zinc. Trace elements are also called micronutrients. in the soil," concluded Mr. Novotny. "We are pleased that Heinz Brungs, the founder of Ironite will continue to work with Central to develop and market the next generation of environmentally-friendly products for consumers and professionals." Central Garden & Pet Company is a leading innovator, marketer and producer of quality branded products for the pet and lawn and garden supplies markets. Our pet products include pet bird and small animal food, aquarium products, flea, tick, mosquito and other pest control pest control n → control m de plagas pest control n → lutte f contre les nuisibles pest control pest n products, edible bones, cages, carriers, pet books, and other dog, cat, reptile and small animal products. These products are sold under a number of brand names, including Kaytee, SuperPet, All-Glass Aquarium, Oceanic, Kent Marine, Energy Savers Unlimited, Zodiac, Pre-Strike, Altosid, Nylabone, TFH TFH Technische Fachhochschule (German: Engeneering College/University) TFH 24 Hours (Movie) TFH Thread from Hell (newsgroups) TFH Tinfoil Hat TFH Thanks For Helping , Four Paws, Interpet, Breeder's Choice and Farnam. Our lawn and garden products include grass seed, wild bird food, weed and insect control products, and decorative outdoor patio products. These products are sold under a number of brand names, including Pennington, Norcal Pottery, New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. Pottery, GKI/Bethlehem Lighting, Lilly Miller, Matthews Four Seasons, Cedar Works, AMDRO, Grant's, Sevin and Over'n Out. For additional information on Central Garden & Pet, including access to the Company's SEC filings, please visit the Company's website at http://www.central.com/. |
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