Central Garden & Pet Announces Intent to Offer $300 Million of Senior Subordinated Notes
February 22 2010 - 3:06PM
Business Wire
Central Garden & Pet Company (NASDAQ:CENT) (NASDAQ:CENTA)
(“Central”) announced today its intent to offer, subject to market
and other conditions, $300 million aggregate principal amount of
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 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 a portion of the outstanding indebtedness
under its senior term loan, and pay fees and expenses related to
the offering.
The notes are being offered pursuant to a prospectus supplement
to Central’s effective shelf registration statement filed with the
U.S. Securities and Exchange Commission on September 1, 2009.
J.P. Morgan Securities Inc. and Oppenheimer will serve as joint
book-running managers for the offering, and SunTrust Robinson
Humphrey and Deutsche Bank will serve as co-managers. The offering
is being made only by means of a prospectus and related prospectus
supplement.
Copies of the prospectus and, when available, 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, when available, 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.
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