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Central Garden and Pet Acquires Aquarium Fish Wholesaler Segrest for USD 60m.

M2 EQUITYBITES-October 25, 2016-Central Garden and Pet Acquires Aquarium Fish Wholesaler Segrest for USD 60m

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25 October 2016 - California-based lawn, garden, and pet product producer Central Garden and Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) has purchased US-based aquarium fish wholesaler Segrest Inc. for a cash purchase price of USD 60m, the company said.

The acquisition is not expected to be dilutive to earnings in fiscal 2017 and accretive thereafter.

Central Garden and Pet produces branded products for the lawn and garden and pet supplies markets.

Segrest Farms is a wholesale distributor of ornamental fish.

The company offers tropical and coldwater aquarium fish, saltwater fish and invertebrates, marine corals and live rock, aquatic plants, amphibians, reptiles, small animals, drygoods, live food, and testers.

It was founded in 1961 and is headquartered in Gibsonton, Florida.

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Publication:M2 EquityBites (EQB)
Date:Oct 25, 2016
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