Central Garden & Pet Co

central.com

What Do They Do?

Makes and distributes pet supplies and lawn and garden products for retailers, distributors and professional users.

How Do They Make Money?

Wholesalers, distributors and retailers buy finished pet and garden products; payment is due on a short-term basis, and sales are tied to shipment or delivery. Central also earns fees as it provides logistics and merchandising services, plus royalties when licensees make sales.

revenue

Segment	Share	How money arrives
Other garden products Sold outright	26% FY2022: 26%	Sold outright
Other pet products Sold outright	19% FY2022: 23%	Sold outright
Other manufacturers' products Sold outright	21% FY2022: 22%	Sold outright
Dog & cat products Sold outright	19% FY2022: 16%	Sold outright
Wild bird Sold outright	15% FY2022: 13%	Sold outright

Who Are Their Customers?

Garden products go directly to national and regional chains and through independent garden distributors. Pet products reach big-box, regional, online and mass retailers, as well as independent pet stores through distributors.

Do Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2025 and turned 9 cents into free cash flow.

Operating income, FY2025

8% of revenue

▲ +35% vs FY2024 ($185.4M, 6%)

Net income, FY2025

5% of revenue

▲ +51% vs FY2024 ($108M, 3%)

Free cash flow, FY2025

9% of revenue

▼ −17% vs FY2024 ($351.8M, 11%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Jun 27, 2026

Revenue: ▼ −8%; vs $960.9M in Q3 FY2025
Net income: ▼ −5%; vs $95M in Q3 FY2025

Other pet products share of revenue vs 19.5% in Q3 FY2025

Aug 5, 2026 Raises fiscal 2026 non-GAAP earnings outlook Raised its non-GAAP diluted EPS outlook from $2.70 or better to $2.85 or better.
Jul 27, 2026 Agrees to acquire a majority interest in TRIXIE The deal calls for €340 million in cash at closing plus up to €60 million in earn-out payments and is expected to close in the first half of fiscal 2027.

Flat. Revenue was $3.1B in FY2025, about the same as the $3.3B of FY2021.

U.K. operations The older report described facilities in the U.K.; the latest says Central sold its U.K. operations.

Independent garden distribution The older report described distributing other manufacturers’ brands through its network; the latest says it divested its low-margin business serving the independent garden channel.

Revenue over time

Other garden products Other pet products Other manufacturers' products Dog & cat products Wild bird Controls & fertilizer products

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Mars, Spectrum Brands, J.M. Smucker, Animal Supply, and Phillips Pet Food & Supplies

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