M&A Deal Summary

Central Garden Acquires Segrest

On October 24, 2016, Central Garden acquired distribution company Segrest from Meriwether Capital for 60M USD

Acquisition Highlights
  • This is Central Garden’s 3rd transaction in the Distribution sector.
  • This is Central Garden’s 4th largest (disclosed) transaction.
  • This is Central Garden’s 5th transaction in the United States.
  • This is Central Garden’s 1st transaction in Florida.

M&A Deal Summary

Date 2016-10-24
Target Segrest
Sector Distribution
Buyer(s) Central Garden
Sellers(s) Meriwether Capital
Deal Type Add-on Acquisition
Deal Value 60M USD

Target

Segrest

Gibsonton, Florida, United States
Segrest, Inc. is a wholesale distributor of tropical fish to pet store chains and independent pet shops.

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Buyer(S) 1

Buyer

Central Garden

Walnut Creek, California, United States

Category Company
Founded 1955
Sector Consumer Products
Employees6,700
Revenue 3.3B USD (2023)
DESCRIPTION

Central Garden is a marketer and producer of quality branded products for the pet and lawn and garden supplies markets. Central Garden & Pet's products include pet bird and small animal food, aquarium products, flea, tick, mosquito and other pest control products, edible bones, cages, carriers, pet books, and other dog, cat, reptile and small animal products. Central Garden was founded in 1955 and is headquartered in Walnut Creek, California.


DEAL STATS #
Overall 5 of 13
Sector (Distribution) 3 of 4
Type (Add-on Acquisition) 4 of 12
State (Florida) 1 of 1
Country (United States) 5 of 13
Year (2016) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-01 Envincio

Spartanburg, South Carolina, United States

Envincio LLC develops, manufactures, registers, and markets pest control products for professional, household, janitorial-sanitation, farm hygiene, animal health and vector control.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-30 K&H Pet Products

Colorado Springs, Colorado, United States

K&H Manufacturing LLC is a producer of premium pet supplies and the largest marketer of heated pet products in the country. K&H sells branded pet products under the K&H and K&H Pets brands. K&H produces innovative pet products that span several categories, including dog and cat, small animal, and farm and ranch. K&H Manufacturing was founded in 1998 and is based in Colorado Springs, Colorado.

Buy -

Seller(S) 1

SELLER

Meriwether Capital

New York, New York, United States

Category Private Equity Firm
Founded 1976
Size Small
Type Sector Agnostic
DESCRIPTION

Meriwether Capital is a private equity firm focused on acquiring middle-market private companies and corporate divestitures. Meriwether prefers opportunities located in the Eastern US with EBITDA of at least $2 million. Target sectors include specialty manufacturing, distribution, and service. Meriwether typically seeks majority positions. Meriwether Capital was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 4 of 5
Sector (Distribution) 2 of 2
Type (Add-on Acquisition) 1 of 2
State (Florida) 1 of 1
Country (United States) 4 of 5
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-01 Wood Pro

Auburn, Massachusetts, United States

Wood Pro is a distributor of hardwood flooring, tile and related installation and finishing supplies to flooring contractors. The company has earned the title "The Wood Floor Experts" with distribution centers able to provide customers with a full array of materials, equipment, experience and expert advice for any floor project plus unmatched customer service. Wood Pro was founded in 1993 and is based in Auburn, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-08 Tonka Equipment

Plymouth, Minnesota, United States

Tonka Equipment Co., Inc. (Tonka Water) is an engineer customize water treatment solutions for a variety of applications including surface water, groundwater, water reuse, industrial process water, remediation, and advanced wastewater treatment. Tonka Equipment Co was founded in 1956 and is based in Plymouth, Minnesota.

Sell -