Florikan E.S.A. Acquires Dynamite Plant Food
Florikan E.S.A. recently announced its acquisition of Dynamite Plant Food. The product contains Nutricote brand Controlled Release Fertilizer packaged and marketed for the consumer market and is available at Home Depot stores. The acquisition is now finalized, as Florikan took ownership of Dynamite and its manufacturing source, Enviro-Safe Laboratories, Inc., a wholly-owned subsidiary of Hines Horticulture.
Florikan plans to grow the availability of Dynamite for gardeners nationally by working with Home Depot stores to augment supply and inventory. The company has already begun transitioning product manufacturing and inventory management from Hines in Miami, Fla., to its own Sarasota, Fla., headquarters.
Plans are currently being made to give the product packing and marketing materials a facelift with updated branding. Plans will also be executed to enhance the product’s performance by incorporating Florikan’s and proprietary SNR and 3-Stage fertilizer blending technology. During the next few years, the product line will be expanded to include new plant-specific formulations and additional sizes for gardeners.
Scotts Miracle-Gro News
The Scotts Miracle-Gro Company recently announced a definitive agreement to acquire the Rod McLellan Company, a provider of soil and landscape products in the western United States.
With a product line consisting of several strong brands, including Supersoil, Whitney Farms and Black Magic, the Rod McLellan Company has been involved in consumer potting and garden soil products in the western United States for more than 50 years. The Whitney Farms brand of all-natural, premium organic soils, fertilizers and mulches is an exclusive label, distributed solely through independent garden centers.
The acquisition is expected to close on Oct. 3, 2005. Scotts Miracle-Gro will pay approximately $20 million in cash for Rod McLellan Company. The transaction is expected to be accretive to earnings in fiscal 2006.
The Scotts Company is also announcing that manufacturing of its Peters Water Soluble Fertilizers is being transitioned to regional manufacturing facilities in Lancaster, Ohio, and Ballinger, Texas. Other Scotts Miracle-Gro-branded water-soluble fertilizers have been manufactured at these facilities for over 30 years. The Lancaster plant produces professional products for international distribution, while the Ballinger plant was added to increase capacity. The move is being made to take full advantage of the expertise and production excellence established at each facility.