CENTRAL GARDEN & PET CO

Central Garden & Pet Company announced it has entered into an agreement to acquire approximately 80% of TRIXIE Heimtierbedarf GmbH & Co. KG, a leading European pet supplies and pet snacks company. The total consideration is up to €400 million, comprising an upfront cash payment of approximately €340 million and an earn-out potential of up to €60 million. This strategic acquisition aims to strengthen Central's portfolio and expand its presence in the European pet market, with TRIXIE's current leadership and key shareholders retaining a minority interest.

Central Garden & Pet Company reported strong financial results for the three months ended March 28, 2026, with net sales increasing by 8.7% and diluted EPS rising by 30.6%. The company also announced the acquisition of Champion USA LLC's U.S. assets for $57 million in cash, a strategic move to expand its cattle fly-control business. Despite increased cash usage in operating and investing activities, the company's overall financial position strengthened.

Central Garden & Pet Company announced record financial results for its second quarter fiscal year 2026, with net sales increasing to $906 million and GAAP diluted EPS rising to $1.28. The company also reaffirmed its fiscal 2026 non-GAAP diluted EPS outlook of $2.70 or better. Following the quarter, Central Garden & Pet entered into a strategic pet distribution partnership with Phillips, aiming to simplify its business and strengthen its focus on branded portfolios.