Central Garden & Pet Company (NASDAQ: CENT)(NASDAQ: CENTA) ("Central”)
announced today that the Company's Board of Directors has authorized a
new $100 million share repurchase program. Under the Company’s prior
$100 million repurchase program, since 2006 the Company repurchased 6.0
million shares of Common Stock and 4.6 million shares of Class A Common
Stock for approximately $99.7 million.
Central may repurchase shares of its common stock on the open market at
times and prices considered appropriate by management. Repurchasing may
take place through brokers and dealers or in privately negotiated
transactions, and may be made under a Rule 10b5-1 plan.
Central Garden & Pet Company is a leading innovator, marketer and
producer of quality branded products for the lawn & garden and pet
supplies markets. Committed to new product innovation, our products are
sold to specialty independent and mass retailers. Participating
categories in Lawn & Garden include: Grass seed including the brands PENNINGTON®,
SMART
SEED™ and THE
REBELS™; wild bird feed and the brands PENNINGTON®
and KAYTEE®;
weed and insect control and the brands AMDRO®,
SEVIN®,
IRONITE®
and Over
'N Out®; and decorative outdoor patio products and the brands NORCAL®,
NEW
ENGLAND POTTERY®, CEDAR
WORKS® and MATTHEWS
FOUR SEASONS™. We also provide a host of other regional and
application-specific garden brands and supplies. Participating
categories in Pet include: Animal health and the brands ADAMS™
and ZODIAC®;
aquatics and reptile and the brands OCEANIC®,
AQUEON®
and ZILLA®;
bird & small animal and the brands KAYTEE®,
SUPER
PET® and CRITTER
TRAIL®; dog & cat and the brands TFH™
,
NYLABONE®, FOUR
PAWS®, PINNACLE®
and AVODERM®;
and equine and the brands FARNAM®,
BRONCO®
and SUPER
MASK®. We also provide a host of other application-specific Pet
brands and supplies. Central Garden & Pet Company is based in Walnut
Creek, California, and has approximately 4,000 employees, primarily in
North America and Europe. For additional information on Central Garden &
Pet Company, including access to Central's SEC filings, please visit
Central's website at www.central.com.
"Safe Harbor” Statement under the Private Securities Litigation Reform
Act of 1995: The statements contained in this release which are not
historical facts are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking
statements. These risks are described in the Company’s Annual Report on
Form 10-K, filed November 20, 2009 and Central’s Quarterly Report on
Form 10-Q, filed May 6, 2010, and other Securities and Exchange
Commission filings. Central undertakes no obligation to publicly update
these forward-looking statements to reflect new information, subsequent
events or otherwise.
