Central Garden & Pet Sets Record Q3
In August, Central Garden & Pet, which is publicly traded, announced a record third quarter, with sales up 24% over the previous year, driven by acquisitions, as well as organic growth in both the garden and pet industries. The company made just over $1 billion in sales for Q3 2021 versus $833 million in 2020.
“We delivered another record quarter due to the strong demand for our Pet and Garden brands and our team’s hard work and dedication,” says Tim Cofer, CEO of Central Garden & Pet, in a media release about the company’s performance. “We are encouraged by the early progress on our Central to Home strategy and our third quarter results, especially when we consider the extraordinary growth in the prior year quarter. Given our robust year-to-date performance, we are raising our outlook for fiscal 2021.”
On the garden side of the company, net sales increased 42% to $529 million, “driven by a $137 million contribution from recent acquisitions, as well as organic growth of 5%, with notable strength in live plants, distribution and wild bird feed,” according to the release. On the pet side, net sales increased 10% to $508 million.
The company revised its outlook for 2021 and now expects earnings at or above $2.45 billion. GP