Central Garden & Pet Announces New Chairman of the Board
March 19 2018 - 7:00AM
Business Wire
Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA),
a leading innovator, producer and distributor of branded and
private label products for the lawn & garden and pet supplies
markets, today announced that Brooks Pennington III (Sonny) has
succeeded Bill Brown as Chairman of the Board. Brown will remain on
the Board of Directors and continue to focus on higher-level
strategic initiatives for the Company.
Pennington has been on Central Garden & Pet’s Board of
Directors for 20 years and has been the Company’s Director of
Special Projects since 2006. Prior to his current role, Pennington
served as the President and CEO of Pennington Seed from 1994 to
2006 and has almost 40 years’ experience in the lawn and garden
industry. Pennington Seed was acquired by Central Garden & Pet
in 1998.
Bill Brown, founder of Central Garden and Pet, commented, “Sonny
has been an important part of Central’s success and has been an
invaluable partner in helping grow our Company. He knows our
culture and business well and I am confident he will be a wonderful
steward for the business, working with management to move Central
forward in the future.” Brown continued, “As for me, I will
continue on the Board of Directors and chair the Board’s Investment
Committee - working on strategic initiatives to help grow Central
in the years ahead.”
Pennington added, “Bill has been an inspiration to us all. Since
he took Central public in 1993, the Company has grown revenues by a
compounded annual average of 8% and net income by 13%.” Pennington
continued, “We are fortunate to have a strong management team led
by CEO George Roeth, a highly-engaged Board, and a dedicated and
talented employee base. I look forward to collaborating with all of
them as we move forward to continue to grow our Company organically
and through acquisitions into the future.”
About Central Garden & Pet
Central Garden & Pet Company is a leading innovator,
producer and distributor of branded and private label 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 and the brands PENNINGTON®, and THE REBELS®;
wild bird feed and the brand PENNINGTON®; weed and insect control
and the brands AMDRO®, SEVIN®, and OVER-N-OUT®; fertilizer and the
brands PENNINGTON® and IRONITE®; and decorative outdoor patio
products under the PENNINGTON® brand. 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™, COMFORT ZONE®, FARNAM®, HORSE HEALTH™ and VITAFLEX®;
aquatics and reptile and the brands AQUEON®, CORALIFE®, SEGREST™
and ZILLA®; bird & small animal and the brands KAYTEE®,
Forti-Diet® and CRITTER TRAIL®; and dog & cat and the brands
TFH™, NYLABONE®, FOUR PAWS®, IMS®, CADET®, DMC™, K&H Pet
Products™, PINNACLE® and AVODERM®. 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 4,200 employees, primarily in North America. For
additional information on Central Garden & Pet Company,
including access to the Company's SEC filings, please visit the
Company’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. All forward-looking statements are
based upon the Company’s current expectations and various
assumptions. There are a number of risks and uncertainties that
could cause our actual results to differ materially from the
forward-looking statements contained in this release including, but
not limited to, the following factors:
- failure of the acquired business to
achieve expected results;
- seasonality and fluctuations in the
Company’s operating results and cash flow;
- adverse weather conditions;
- dependence on a small number of
customers for a significant portion of our business;
- uncertainty about new product
innovations and marketing programs;
- dependence upon key executives and the
ability to retain the General Pet Supply management; and
- competition in our industries.
These risks and others are described in Central’s Securities and
Exchange Commission filings. Central undertakes no obligation to
publicly update these forward-looking statements to reflect new
information, subsequent events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20180319005228/en/
Central Garden & Pet CompanySteve Zenker, 925-948-3657VP
Finance - Investor Relations, FP&A and Communications
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