DivestmentAug 6, 2026, 02:36 PM
Central Garden & Pet Divests Pet Distribution, Acquires Champion USA
AI Summary
Central Garden & Pet completed the divestment of its Pet Distribution business for $31 million cash and a $5 million note, retaining a 20% ownership interest. The company also acquired Champion USA LLC for approximately $57 million in cash. For the nine months ended June 27, 2026, net income attributable to the company increased to $176.1 million, while net sales slightly decreased to $2.41 billion. Operating cash flow significantly improved.
Key Highlights
- Divested Pet Distribution business for $31M cash, $5M note, and 20% equity stake.
- Acquired Champion USA LLC for approximately $57M in cash.
- Nine-month net income attributable to company increased to $176.1M from $172.6M YoY.
- Nine-month diluted EPS rose to $2.84 from $2.69 YoY.
- Nine-month net sales decreased to $2.41B from $2.45B YoY.
- Three-month net sales decreased to $882.4M from $960.9M YoY.
- Net cash provided by operating activities for nine months was $207.6M, up from $149.8M YoY.
- Cash and cash equivalents increased to $996.7M from $713.0M YoY.
Price Impact
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