Bonnie Plants, ScottsMiracle Gro Announce Partnership
On Feb. 2, Bonnie Plants and the ScottsMiracle Gro Company announced a strategic, formalized partnership. As part of the agreement, ScottsMiracle-Gro will have a minority stake in the Bonnie Plants business and will provide exclusive marketing and research and development services to the edible gardening initiatives of the company.
“As leaders in our respective live goods and consumer products categories, our companies have enjoyed a longstanding history together and the Bonnie Plants family welcomes this opportunity to formalize our deep-rooted relationship with ScottsMiracle-Gro,” says Stan Cope, president of Bonnie Plants. “This investment allows us to enhance and grow our business by combining ScottsMiracle-Gro’s marketing and R&D expertise with our expertise in plant production through our national greenhouse operations and widespread retail distribution.”
The companies will work together to improve and support gardeners’ retail shopping experience by providing more complete and comprehensive garden-to-table initiatives. ScottsMiracle-Gro will also leverage its R&D expertise to help innovate with the goal to offer vegetable and herb plants with quicker and more plentiful harvests.
“Our relationship with Bonnie dates back decades when we worked together on marketing programs that helped propel the Miracle-Gro business,” said Jim Hagedorn, Chairman and CEO of ScottsMiracle-Gro. “There is no finer brand in the live goods category than Bonnie and the benefits from this partnership for both sides are obvious and significant. We look forward to working with the Bonnie team to drive the gardening category to new heights.”
Bonnie Plants is a wholly owned subsidiary of Alabama Farmers Cooperative (AFC). It will continue to operate as an independent organization, led by Stan Cope.
A management committee with representatives from both organizations will oversee any joint business operations.
The deal is expected to close in late February 2016, provided that certain conditions are met including AFC membership approvals. AFC was advised by Rabobank, a long term, trusted advisor to the cooperative.
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