Scotts Miracle-Gro Buys Fafard And Brothers

(RTTNews) - Lawn-care products maker Scotts Miracle-Gro Co. (SMG) said that its indirect subsidiary, Scotts Canada Ltd., has acquired Fafard and Brothers Ltd.

In continuous operation since 1940 and based in Saint-Bonaventure, Quebec, Canada, Fafard is a leader in the production of high-quality peat moss and high-performance growing media products, including peat-based and bark-based mixes, composts and premium soils. Fafard serves customers primarily across Ontario, Quebec and New-Brunswick.

Fafard also distributes a full range of related products for the gardening industry including fertilizers, mulch and grass seed. Fafard serves both the retail and professional grower markets and is widely recognized for the quality of its products, customer and market responsiveness, and certification by world-wide sustainability standards' organizations. Fafard is committed to best-in-class management practices in all aspects of sustainable development.

ScottsMiracle-Gro expects the Fafard business to add annual sales of about $40 million and for the transaction to be earnings accretive in fiscal 2015.