Central Garden & Pet to Acquire 80% of Europe's Leading Pet Supplies Company for Up to €400M
CENT sits 52% above its 52-week low of $28.77.
Summary
Central Garden & Pet announced the acquisition of an 80% stake in TRIXIE, Europe's leading pet supplies company, for up to €400 million, marking a major strategic expansion into the European market.
Key Events · M&A and Partnerships · CENT
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Acquisition of TRIXIE
Central Garden & Pet will acquire approximately 80% of TRIXIE Heimtierbedarf, Europe's leading pet supplies and snacks company, for up to €400 million total consideration — €340 million upfront cash plus a €60 million earn-out based on 2026 performance.
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Strategic Expansion into Europe
The deal gives Central a scaled platform in the €10 billion European pet supplies market, with TRIXIE's 6,000+ products, 30,000 retail customers, and industry-leading logistics capabilities, creating the leading global player in pet supplies.
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Financial Impact
The upfront cash payment of €340 million (~$370 million) represents a significant capital outlay for Central, which had $3.1 billion in fiscal 2025 net sales. The earn-out aligns seller incentives with near-term performance.
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Minority Stake and Future Buyout
Founder and key shareholders will retain a 20% stake, with put/call rights over at least three years, providing a path to full ownership while ensuring management continuity.
Analysis · CENT · Trade & Services
A transformative deal is underway as Central Garden & Pet acquires a controlling stake in TRIXIE, the leading European pet supplies and snacks company, for up to €400 million. This move expands its footprint into Europe and creates the largest global player in pet supplies. The upfront cash payment of €340 million is substantial relative to Central's $2.5 billion market cap, while the earn-out aligns incentives with 2026 performance. The acquisition brings a scaled platform with strong logistics, 6,000+ products, and 30,000 retail relationships, positioning Central to consolidate a fragmented European market. The deal is expected to close in the first half of fiscal 2027, pending regulatory approval.
At the time of this filing, CENT was trading at $43.75 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $28.77 to $45.78. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.