Marysville, Ohio
March 14, 2002
The Scotts Company
(NYSE: SMG), the global leader in the lawn and garden industry,
announced today that Scotts LawnService has acquired The Lawn
Company, a major lawn care service company in the Boston area.
The transaction is the largest acquisition to date by Scotts
LawnService.
With this and previous acquisitions, as well as new expansion
markets in 2002, Scotts LawnService now has company-owned
operations in 35 markets, 30 of which are in the top 100 lawn
service markets in the country. In addition, Scotts LawnService
has franchises operating in 46 markets, 16 of which are in the
top 100 lawn service markets in the country.
Last month, Scotts LawnService completed the acquisition of J.C.
Ehrlich Co.’s lawn and tree care division, complementing its
footprint in Pennsylvania, which now includes branch operations
in Philadelphia, Harrisburg, Allentown, Reading and Lancaster.
Thus far in 2002, Scotts LawnService also has acquired
businesses in Memphis, Charlotte, Dayton and Milwaukee and
expanded its presence in metro Detroit.
These acquisitions keep Scotts LawnService on track to meet its
aggressive growth projections for fiscal 2002. In fiscal 2001,
Scotts LawnService reported revenues of $42 million, a 96
percent increase over the previous year. Scotts LawnService is
the nation’s second largest player in the $3.6 billion
“do-it-for-me” lawn service market.
“The Lawn Company transaction demonstrates our continued
commitment to Scotts LawnService and our belief that this
business is critical to our overall profitable growth,” said
James Hagedorn, president and chief executive officer of The
Scotts Company. “Our recent acquisitions keep us on target with
our goal of having a substantial presence in the top 100 lawn
service markets within the next several years.”
Growth for Scotts LawnService will come from a combination of
acquisitions, start-up operations in major lawn service markets
and continued strong internal growth in existing markets.
“By leveraging the strength of the Scotts brand, we are
appealing to the increasing numbers of consumers who want great
results in their yard, and the convenience of having the work
done for them,” said Tony Colatrella, senior vice president of
Scotts. “Our industry-leading customer satisfaction and
retention levels are due to the high quality results produced by
Scotts products and our ongoing commitment to customer service.”
The Scotts Company is the world’s leading supplier of
consumer products for lawn and garden care, with a full range of
products for professional horticulture as well. The company owns
the industry’s most recognized brands. In the U.S., the
company’s Scotts®, Miracle-Gro® and Ortho® brands are market
leading in their categories, as is the consumer Roundup® brand
which is marketed in North America and most of Europe
exclusively by Scotts and owned by Monsanto. In the U.K.,
Scotts’ brands include Weedol® and Pathclear®, the top-selling
consumer herbicides; Evergreen®, the leading lawn fertilizer
line; the Levington® line of lawn and garden products; and
Miracle-Gro®. The Company also owns and operates Scotts
LawnService®, a leading provider of professional lawn service.
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