Exponent Private Equity LLP announced today that they have completed their purchase of The Scotts Miracle-Gro Company?s business in Europe and Australia.
The purchase of the international business of the leading marketer of branded consumer lawn and garden products includes ScottsMiracle-Gro operations in Australia, Austria, Belgium, France, Germany, Poland and the U.K. ScottsMiracle-Gro brands and products would continue to be manufactured and marketed in Europe and Australia as a result of licensing and sub-licensing agreements.? In Europe, the brands include Roundup?, Weedol?, Pathclear?, EverGreen?, Levington?, Miracle-Gro?, KB?, Fertilig?ne?, Substral?, Osmocote? and Naturen?, the availability of which is dependent upon the country. Among the brands in Australia are Scotts?, Osmocote?, Naturen?, Roundup?, Home Defense? and Pure Organics?.
Exponent have appointed a Senior Leadership Group to lead the international business based out of the UK office in Frimley, Surrey. Karl Kahofer will lead the International group as chief executive officer alongside Ted Linehan as chief commercial officer and Martin Lofnes, chief finance officer. They bring between them a wealth of consumer goods experience and expertise.
Sheila Hill, UK country manager, said: ?We are delighted to have finalized the sale of the business to Exponent and are excited about the future of our business with our new owners and Leadership team. We look forward to strong investments in our brands and categories with more media and innovation. In the meantime we are focused on being ready for next season and ensuring we continue to deliver an excellent service to our customers and consumers. In fact nothing much changes as the transition begins ? working with the same people, same strong brands, under the same arrangements, with the name? The Scotts Company (UK) Ltd.?
Exponent is an experienced and successful investor in consumer businesses with high-growth potential. The proposed sale would mark Exponent?s initial investment in the lawn and garden space.
Commenting on the acquisition, Simon Davidson, partner at Exponent, said: ?These are market-leading garden care brands loved by consumers around the world. We look forward to working with ScottsMiracle-Gro and investing further in advertising and innovation to continue to grow these brands and unlock the full potential of the business.?
About Exponent Private Equity
Exponent is a private equity firm investing primarily in businesses with significant presence in the U.K. with enterprise values between ?75m and ?400m. It works with businesses across a broad range of sectors to unlock value and drive growth. Its current and former portfolio companies include businesses such as Quorn Foods, Photobox Group, Loch Lomond Whisky, Big Bus Tours, the Ambassador Theatre Group and Trainline. This transaction would represent Exponent?s 18th corporate carve-out transaction since it was founded in 2004; it has acquired businesses from a range of vendors, including Premier Foods, DMGT, BBC, News Corporation, Umeco, Live Nation, Virgin and Alere.
For more information, please email ScottsUK@kindredagency.com with your request. For immediate information, please call 0207 010 0829.