Scotts Chairman and CEO Jim Hagedorn said in a statement Monday that the buyout “is complementary to our existing controls business and fills a gap in our current product offering.”
The deal includes the Tomcat brand and a long-term partnership to bring innovative technologies to the consumer rodent control market. Tomcat products are sold at home improvement stores, mass retailers, grocery, drug and general merchandise stores in the U.S., Canada, Europe, Australia and New Zealand.
Bell Laboratories will continue to perform regulatory and manufacturing functions for the Tomcat brand.
Scotts shares slipped 3 cents to $54.92 in morning trading Monday. They are near the upper end of their 52-week range of $39.64 to $56.05.
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