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News For SMG From The Last 14 Days
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October 28, 2014
16:37 EDTSMGScotts Miracle-Gro announces formation of the Hawthorne Gardening Company
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16:04 EDTSMGScotts Miracle-Gro declares first quarterly dividend of 45c per share
The Scotts Miracle-Gro Company announced that its board has approved the payment of a cash dividend of 45c per share. The dividend is payable Wednesday, December 10 to shareholders of record on November 26.
October 20, 2014
08:32 EDTSMGScotts Miracle-Gro signs definitive agremeent to acquire Action Pest Control
Scotts Miracle-Gro announced that its subsidiary EG Systems, doing business as Scotts LawnService, has signed a definitive agreement to acquire the assets of Action Pest Control. The transaction, which is expected to close by January 2015, would mark the company's first acquisition of a home pest control business. For more than a year, Scotts LawnService has been operating a pest business in Florida using the Company's Ortho brand. The effort has provided a successful proving ground for a business model that offers consumers the benefit of a lawn and pest service from the same provider. Scotts LawnService anticipated sales of approximately $260M in fiscal 2014. Given the fragmented nature of the $7B home pest control category, the Company believes it can complement organic growth in lawn service by consistently expanding its pest control platform. Action Pest provides a comprehensive range of residential and commercial pest control services to homeowners and businesses throughout Indiana, Kentucky, and Illinois. The company expects the Action Pest business to add annual sales approaching $15M and for the transaction to be earnings accretive in fiscal 2015.

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