Scotts Completes Acquisition of Smith & Hawken

MARYSVILLE, Ohio – The  The Scotts Co. announced that it has completed the previously announced acquisition of Smith & Hawken.

“We’re glad to welcome Smith & Hawken to our family of industry-leading brands and look forward to maximizing the potential that this acquisition presents for Scotts,” said Jim Hagedorn, chairman and chief executive officer. “This acquisition is a natural step for Scotts. The Smith & Hawken brand is the gold standard in outdoor living and fits with our strategy to extend into adjacent lawn and garden categories.”

Barry Gilbert will continue to lead Smith & Hawken and will report to Bob Bernstock, president of the North America business for Scotts. Gilbert and his management team will remain in Novato, Calif., where Smith & Hawken is located.

The purchase price of Smith & Hawken is approximately $68.5 million, which includes the value of acquired tax benefits. The cash portion of the purchase price was funded with cash on hand as permitted by the company’s existing credit facility.

Smith & Hawken products are sold through its 56 retail stores around the United States as well as through catalog and Internet sales. The business has also extended its brand into other retail channels with its “store-within-a-store” concept in garden centers across the country. Hagedorn said expansion of the Smith & Hawken brand through additional channels of distribution will be a key part of Scotts’ growth strategy.