Central Garden & Pet Strengthens New Product Pipeline; Acquires Exclusive Marketing Rights to Etofenprox Deepens Active Ingredient Portfolio.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:CENT) today announced that it has acquired certain intellectual property assets from Shirlo, Inc. including the company's exclusive marketing rights to etofenprox, a leading edge technology insect adulticide approved for on-animal use, for approximately $10 million. "This acquisition is an important step in our strategy to develop new, high-margin products for both professional and consumer lawn & garden and pet insect control marketplaces," noted Glenn Novotny, President and Chief Executive Officer. "Etofenprox combined with our larvicide lar·vi·cide n. An agent that kills insect larvae. lar vi·cid al adj. (S)-Methoprene enables us to produce innovative new products that combine both active ingredients for more effective insect control solutions for pet and garden uses. Adulticide products kill insects on contact and larvicides kill insects before they hatch." The acquired assets will be combined with Wellmark International, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Central. Wellmark is the primary producer of the larvicide (S)-Methoprene, an active ingredient used to control mosquitoes, fleas, ticks, ants and other insects used in leading professional and consumer insect control applications. Shirlo, Inc. will continue to serve its customers as a contract manufacturer of aerosols and liquid products. Central's leading brands of active ingredient based-products include Zodiac flea and tick control; Altosid and PreStrike mosquito control for professional and consumer usage; AMDRO fire ant fire ant Any of a genus (Solenopsis) of insects in the ant family, several species of which are common in southern North America. They are red or yellowish and can inflict a severe sting. The semipermanent nest consists of a loose mound with open craters for ventilation. control; Grant's household and garden ant control and Eliminator weed and grass control manufactured exclusively for Wal*Mart. In addition to Central's brands, (S)-Methoprene is licensed to other manufacturer's of insect control products. The assets acquired from Shirlo, Inc will not materially contribute to Central's financial performance in fiscal 2006 and fiscal 2007. 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, Super Pet, 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 and Interpet. 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/. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained in this release which are not historical facts, including future earnings guidance, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in the Company's Securities and Exchange Commission filings. Central undertakes no obligation to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise. |
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