ScottsMiracle-Gro Expands Controls Category with Purchase of Tomcat Consumer Business
The acquisition includes the Tomcat brand, as well as a long-term partnership to bring innovative technologies to the consumer rodent control market. Tomcat consumer products are sold at home centers and mass retailers, as well as grocery, drug and general merchandise stores across the U.S. and
"This transaction is consistent with the strategic direction we have articulated," said
Terms of the transaction are not being disclosed. The integration of the Tomcat consumer business is expected to be accretive to ScottsMiracle-Gro's operating margin beginning in fiscal 2014.
"Consumer rodent control is an attractive and growing category in which a vast number of our consumers already participate," said
The acquisition positions ScottsMiracle-Gro as a leading marketer of consumer rodent control products. In addition to research and development,
With more than
An exclusive manufacturer of rodent control products,
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Monsanto Companywere to terminate the Marketing Agreement for consumer Roundup products, the Company would lose a substantial source of future earnings and overhead expense absorption; Hagedorn Partnership, L.P.beneficially owns approximately 30% of the Company's common shares and can significantly influence decisions that require the approval of shareholders;
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Kimberly Green, Manager of Investor Relations, (937) 578-5107