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TheStreet Open House

ScottsMiracle-Gro Expands Controls Category With Purchase Of Tomcat Consumer Business

Stocks in this article: SMG

MARYSVILLE, Ohio, Oct. 14, 2013 /PRNewswire-FirstCall/ -- The Scotts Miracle-Gro Company (NYSE: SMG), the world's leading marketer of branded consumer lawn and garden products, today announced that it has reached an agreement with Bell Laboratories, Inc., the world's leader in rodent control technology, to acquire the Tomcat® consumer rodent control 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 Canada, in addition to Europe and Australia/ New Zealand.

"This transaction is consistent with the strategic direction we have articulated," said Jim Hagedorn, chairman and chief executive officer. "It is complementary to our existing controls business and fills a gap in our current product offering."

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 Barry Sanders, president and chief operating officer. "While our limited-line of Ortho Home Defense rodent control products have brought innovation to the category since 2009, the addition of the Tomcat consumer business allows us to significantly expand our global commercial footprint. With a strong consumer brand and full line of rodent control products we are better able to serve both our consumers and our retail partners."

The acquisition positions ScottsMiracle-Gro as a leading marketer of consumer rodent control products. In addition to research and development, Bell Laboratories, Inc. will continue to perform regulatory and manufacturing functions for the Tomcat brand.

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