The HC Companies has acquired Classic Home & Garden (CHG), a premier provider of decorative and functional products for the lawn and garden market in North America. Financial terms were not disclosed.
Headquartered in Shelton, CT, CHG designs, sources, and sells decorative garden pots and an array of backyard décor products. In recent years CHG has introduced new product lines focused on water conservation, eco-friendly products and packaging, and optimized transport.
The HC Companies CEO Bob Mayer said CHG's strength in decorative containers fits seamlessly with HC's focus on functional grower products.
"This is a strategic and highly complementary combination of two companies that each have their own distinct value propositions," said Mayer. "There is little overlap between the two and joining forces will create new opportunities for both businesses through cross-selling, production and distribution efficiencies, customer acquisition, channel penetration and product innovation. We are creating a 'one-stop shop' that can simplify the value chain and streamline procurement and retail merchandising for our partners. We believe that is great news for growers, retailers, distributors, and employees alike."
CHG owner and CEO Fred Ryan will remain a significant investor in the combined business and will serve as President.
"I'm proud of the CHG team and the contributions they have made to the success of our business over the years," Ryan said. "Our growth has been driven by a culture of innovation, design and unwavering commitment to quality and customer service. Those core values will continue to guide us as we step onto a larger stage with greater opportunity to expand our reach and our impact."
Platinum Equity acquired HC in 2023 and the investment is led by the firm's Small Cap team.
"When we acquired HC Companies we set out to create a best-in-class, diversified player of scale within the broader horticultural market," said Platinum Equity Partner Jacob Kotzubei and Managing Director Nick Fries in a joint statement. "HC's transformational acquisition of CHG is an exciting and important step in that process. We will continue to work with Bob and Fred to evaluate additional strategic M&A opportunities across the lawn and garden market."
Willkie Farr & Gallagher LLP served as legal counsel and Alston & Bird LLP served as financing counsel to HC Companies on the CHG acquisition. Stout served as financial advisor to HC Companies.
Berkowitz, Trager & Trager, LLC and Locke Lord LLP served as legal counsels to CHG. Piper Sandler Companies served as CHG's sell-side financial advisor.
For more information:
The HC Companies
www.hc-companies.com