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0 0.000602409638554183 0.00186746987951809 -0.000722891566265088 -0.000722891566265088 -0.00686746987951799 -0.00590361445783126 -0.00530120481927708
Stock impact report

Scotts Miracle-Gro shares slip after $450 million acquisition announced [MarketWatch]

Scotts Miracle-Gro Company (The) (SMG) 
Last scotts miracle-gro company (the) earnings: 1/29 07:00 am Check Earnings Report
Company Research Source: MarketWatch
Scotts Miracle-Gro shares slip after $450 million acquisition announced Scotts Miracle-Gro Co. SMG, -2.30% shares are down 2.2% in Wednesday trading after the lawn and garden company announced an agreement to acquire Sunlight Supply Inc., a hydroponics distributor, for $425 million in cash and $25 million in Scotts Miracle-Gro equity upon completion of the deal. The deal will create a distribution model for The Hawthorne Gardening Co., a wholly-owned subsidiary of Scotts Miracle-Gro. Hawthorne had 2017 sales of about $290 million and has a portfolio of brands that includes Gavita and Botanicare. Sunlight has a 350,000-square-foot distribution center in Vancouver, Wa. along with three other North American facilities. Hawthorne Gardening and Sunlight Supply are expected to have about $600 million in annualized sales. In fiscal 2018, the deal is expected to be dilutive by 30 cents to 40 cents per share on an adjusted basis. The company expects to achieve $35 million in financial syner Show less Read more
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