Central Garden & Pet Company (NASDAQ:CENT) (NASDAQ:CENTA) ("Central”)
announced today that it has priced $400 million aggregate principal
amount of 8.25% senior subordinated notes due 2018. The notes will be
unconditionally guaranteed on a senior subordinated basis by each of its
existing and future domestic restricted subsidiaries with certain
exceptions. Central intends to use the net proceeds from the offering,
together with available cash, to purchase its outstanding 9-1/8% senior
subordinated notes due 2013 that holders tender pursuant to a tender
offer it is currently conducting, pay the outstanding indebtedness under
its senior term loan, and pay fees and expenses related to the offering.
The notes will mature on March 1, 2018, and may be redeemed prior to
that date by the Company at applicable redemption premiums. The offering
is expected to close on March 8, 2010.
J.P. Morgan Securities Inc. and Oppenheimer & Co. Inc. are the joint
book-running managers for the offering, and SunTrust Robinson Humphrey
and Deutsche Bank Securities serve as co-managers. The offering is being
made only by means of a prospectus and related prospectus supplement.
Copies of the prospectus and the prospectus supplement relating to the
offering may be obtained by contacting J.P. Morgan Securities Inc., 270
Park Avenue, 8th Floor, New York, NY 10017, Attention: Syndicate Desk or
(800) 245-8812. The prospectus and the prospectus supplement may also be
obtained from the U.S. Securities and Exchange Commission’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any state.
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® 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 AVODENN®; 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 February 4, 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.
