Target Buys Smith & Hawken from Scott's - TheStreet

Target Buys Smith & Hawken from Scott's

Target purchases Smith & Hawken from Scott's Miracle-Gro, in an effort to expand its gardening business.
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MINNEAPOLIS (

TheStreet

) --

Target

(TGT) - Get Report

is expanding its gardening business with the purchase of Smith & Hawken from

Scott's Miracle-Gro

(SMG) - Get Report

, the company announced late Friday.

The discounter did not disclose how much it will be paying for the upscale garden store chain, and will reveal its plans for the brand at a later date.

"We're thrilled to own such an admired and iconic brand," Kathee Tesija, Target's executive vice president of merchandising said in a statement. "We believe the Smith & Hawken brand complements our existing portfolio of owned brands and provides our guests with another compelling reason to shop Target."

Target has carried Smith & Hawken products in its stores since 2006.

Scott's Miracle-Gro said back in July that it planned to shutter the chain after unsuccessful attempts to find a buyer. The company purchased Smith & Hawken in 2004 for $68.5 million.

-- Reported by Jeanine Poggi in New York.

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