Scotts to acquire Tomcat rodent control business
The Scotts Miracle-Gro Company has agreed to acquire Bell Laboratories's Tomcat consumer rodent control business.
"Consumer rodent control is an attractive and growing category in which a vast number of our consumers already participate," said Barry Sanders, Scotts Miracle-Gro president and COO. "While our limited line of Ortho Home Defense rodent control products have brought innovation to the category since 2009, the addition of the Tomcat consumer business allows us to significantly expand our global commercial footprint. With a strong consumer brand and full line of rodent control products we are better able to serve both our consumers and our retail partners."
Scotts will assume ownership of the Tomcat brand and will enter into a long-term partnership with the company to promote rodent control technologies to consumers. The terms of the transaction are as of yet undisclosed.
"This transaction is consistent with the strategic direction we have articulated," said Jim Hagedorn, chairman and CEO of Scotts Miracle-Gro. "It is complementary to our existing controls business and fills a gap in our current product offering."
The acquisition is expected to be accretive to Scotts Miracle-Gro's operating margin beginning in the 2014 fiscal year.
Tomcat products are currently sold in the U.S., Canada, Europe, Australia and New Zealand.