Exponent Private Equity LLP has announced that it has completed its purchase of The Scotts Miracle-Gro Company’s business in Europe and Australia.
The purchase of the international business of consumer lawn and garden products includes Scotts Miracle-Gro operations in Australia, Austria, Belgium, France, Germany, Poland and the U.K. Scotts Miracle-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, Fertiligène, 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 has 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.
UK country manager Sheila Hill said: “We are delighted to have finalised 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, Exponen partner Simon Davidson 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.”