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In 1995, the company merged with Scotts for $200 million in stock, creating the world's largest maker of lawn and garden products, and making Hagedorn the majority investor with 42% of the company and 3 of 11 board seats. [1] [5] Hagedorn's son Jim became CEO and chairman of the merged company. [6] His father retired from Miracle-Gro in 1997. [7]
The Scotts Miracle-Gro Company is an American multinational corporation headquartered in Marysville, Ohio, where O.M. Scott began selling lawn seed in 1868. [2] The company manufactures and sells consumer lawn, garden and pest control products, as well as soilless indoor gardening equipment. [ 3 ]
Scotts LawnService was founded in 1998, with the acquisition of Emerald Green Lawn Care. It was a division of the Scotts Miracle-Gro Company, and provided lawn, tree, and shrub care and pest control. In April 2016 TruGreen announced that it had merged with Scotts LawnService.
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That can be a warning sign, so investors should check in with Scotts Miracle-Gro's filings to make sure there's a good reason for packing the storeroom for this period.
Image source: The Motley Fool. Scotts Miracle-Gro (NYSE: SMG) Q4 2024 Earnings Call Nov 06, 2024, 9:00 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants
Another lawn servicing company, Emerald Green Lawn Service, had been purchased in 1997 by the Scotts Miracle-Gro Company and rebranded in 1998 as Scotts LawnService. In April 2016, Scotts LawnService was merged with TruGreen to operate as a joint venture, with Scotts Miracle-Gro Company retaining partial ownership.
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