May 8, 2002
Scotts sells North American Professional Turf Business
The Nu-Gro Corporation and The Scotts Company have signed a letter of intent for The Andersons to acquire Scott's U.S. Professional Turf Business and Nu-Gro to acquire Scott's Canadian Professional Turf Business.
The acquisition includes ProTurf®, ContecTM and other brand names, the distribution network, customer lists and all trademarks and copyrights associated with the professional turf market. The transaction does not include use of the Scotts brand or any of the Scott's consumer, professional grass seed or professional horticultural businesses. The agreement is expected to be finalized by May 2000.
The Andersons's Processing Group is a recognized industry leader in particle size technology in the U.S. servicing the professional turf industry.
"This acquisition is consistent with our stated strategy of consolidating the Canadian Fertilizer market," said John Hill, president and C.E.O. of The Nu-Gro Corporation. "The high quality products from Scotts will be an excellent addition to Nu-Gro's existing line of Professional Turf products which are widely used in Canada today."