Central Garden Buys Four Paws Products

Lafayette-based Central Garden & Pet Co. said it acquired pet supply company Four Paws Products Ltd. for $55 million in cash and stock. Central Garden stock rose $1.875 to close at $25.75 on Nasdaq. Earlier, shares rose as high as $26, just shy of their 52-week high of $26.375 on Aug. 27. The Four Paws acquisition adds $30 million in sales to Central Garden, which distributes lawn, garden, pet supply products and pool supplies. Central Garden had revenue of $619.6 million for the year ended in September. Central Garden said it paid $45 million in cash and $10 million in Central Garden stock for Four Paws, a closely held company based in Hauppauge, N.Y. The acquisition is Central Garden’s second in recent months.