Business
Central Garden & Pet and Phillips Pet Food & Supplies to Launch Strategic Pet Distribution Joint Venture
Partnership Expands Nationwide Distribution and Enhances Customer Support WALNUT CREEK, Calif.--(BUSINESS WIRE)-- Central Garden & Pet (NASDAQ: CENT, CENTA)
About this update from Central Garden & Pet Company
[{"type":"text","content":"\nPartnership Expands Nationwide Distribution and Enhances Customer Support\n\n\n WALNUT CREEK, Calif.--(BUSINESS WIRE)--\nCentral Garden & Pet (NASDAQ: CENT, CENTA) (“Central”), a leading consumer goods company in the pet and garden industries, today announced a strategic partnership with Phillips Pet Food & Supplies (“Phillips”), a leading national distributor of pet products, to launch a strategic pet distribution joint venture. By bringing together two highly complementary platforms, the companies aim to create a stronger, more agile nationwide distribution network designed to accelerate growth opportunities, drive greater operational efficiency, and deliver enhanced service and capabilities to the companies’ customers, employees, and vendor partners.\n\n\nUnder the terms of the agreement, Central will receive cash proceeds and retain a 20% ownership stake in the newly formed joint venture. Phillips and its existing investors, led by Axar Capital Management LP (“Axar”), will hold the remaining 80%, with the new business operating as an independent entity focused on scaling a differentiated, high-performance nationwide distribution platform. The joint venture will operate under the Phillips brand.\n\n\nCurrent Central Pet Distribution employees are expected to transition to the new joint venture, ensuring continuity of service, expertise, and customer relationships. Their deep knowledge of the business and strong partnerships with customers and vendors will remain a key strength of the combined platform, supporting a seamless transition and continued high-quality service for customers and partners.\n\n\nA Partnership Designed for Long-Term Growth\n\n\nThe formation of this joint venture positions Central’s distribution capabilities to scale, compete, and win as part of a larger, dedicated platform while sharpening the company’s focus on growing its branded portfolio. By combining Phillips’ strength in pet food with Central’s leadership in pet supplies, the joint venture is expected to create a more agile, efficient, and service-oriented network, with expanded reach and improved access for retail and independent partners across the United States.\n\n\n“Phillips and Central bring together highly complementary distribution capabilities,” said Niko Lahanas, CEO of Central Garden & Pet. “This joint venture strengthens the foundati...