Scotts Miracle-Gro names senior VP independent channel
The Scotts Miracle-Gro Co. has appointed Phil Jones, formerly president of its west coast region, to lead its retail channel for independent garden centers and hardware co-op stores as senior VP independent channel.
"We continue to refine our business model to build key capabilities and improve our competitiveness to meet our long-term goal of driving category growth and enhancing our industry leadership," said Barry Sanders, president and chief operating officer. "While independent garden centers and hardware co-ops were the initial drivers of growth for our business, our performance in this channel has not met expectations in recent years.
Jones was named regional president in June 2009, responsible for leading the company’s business development, marketing and sales efforts in the western United States. Jones’ focus on independent garden centers and hardware co-op stores resulted in the top sales growth for the region within this channel for the past several years. Previously, Jones was VP consumer roundup.
Reporting to Jones will be Stephen Markert, VP channel sales, who will oversee independent garden center sales and marketing strategies. Josh Meihls, director of national accounts will oversee hardware co-op sales and marketing.
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Sears Holdings completes divestment of Hometown, Outlet businesses
Sears Holdings has successfully separated out its Sears Hometown and Outlet Stores businesses.
Sears Hometown will be its own company, trading on the Nasdaq Capital Market under the symbol "SHOS." Sears Holdings will continue to be listed on the Nasdaq Global Select Market under the symbol "SHLD." Sears Holdings received aggregate gross proceeds from the separation transactions of $446.5 million, consisting of a cash dividend of $100 million paid by Sears Hometown prior to the separation and aggregate gross proceeds from the rights offering of $346.5 million.
As previously announced, the rights offering was fully subscribed, with more than 95% of the outstanding shares of common stock of Sears Hometown being subscribed for pursuant to the exercise of basic subscription rights and the balance being subscribed for pursuant to the over-subscription privilege. Accordingly, Sears Holdings distributed a total of 23,100,000 shares of Sears Hometown common stock to the holders of subscription rights who validly exercised their subscription rights and paid the subscription price in full.
In addition, as part of the separation transactions consummated Thursday, Sears Hometown entered into an asset-based senior secured revolving credit facility with a group of financial institutions to provide (subject to availability under a borrowing base) for aggregate maximum borrowings of $250 million, borrowings under which were used to fund the dividend paid to Sears Holdings.
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WaterSense announces Partners of the Year
The U.S. Environmental Protection Agency (EPA) recently honored five organizations as 2012 WaterSense Partners of the Year. The awards program recognizes WaterSense partners who help advance the overall mission of WaterSense, increase awareness of the WaterSense brand and demonstrate overall excellence in the water efficiency arena.
WaterSense-labeled products and more than 2,600 WaterSense partners nationwide have helped American businesses and households save 287 billion gallons of water and $4.7 billion in water and energy bills.
“WaterSense is proud to partner with these champions of water efficiency who share our mission to protect the future of our nation’s water supply,” said Nancy Stoner, EPA’s acting Assistant Administrator for Water. “The 2012 WaterSense Partners of the Year were exceptional in their efforts to support innovative approaches to help people and companies save water and money on utility bills nationwide.”
WaterSense recognized the following Partners of the Year:
Manufacturer Partners of the Year
American Standard Brands earned a Manufacturer Partner of the Year Award for developing a WaterSense-labeled toilet model that can be installed without tools. American Standard also toured the country with an educational display that demonstrated how WaterSense-labeled faucets, toilets and showerheads work.
Kohler Co., a three-time WaterSense Manufacturer Partner of the Year, introduced its most water-efficient dual-flush toilet in 2011. The company also more than doubled the number of WaterSense-labeled showerheads it offers and supported and participated in the “Wasting Water Is Weird” consumer education campaign to promote water conservation.
Retailer Partner of the Year
Lowe’s Companies became a three-time WaterSense Retailer Partner of the Year by supporting and participating in the “Wasting Water Is Weird” campaign to promote water conservation and training its sales associates on water savings and usability of WaterSense-labeled products. Lowe’s customers saved about 4 billion gallons of water in 2011 with WaterSense products.
Promotional Partner of the Year
Colorado Springs Utilities was named the WaterSense Promotional Partner of the Year for helping a local builder create the first WaterSense-labeled home in Colorado. The utility also encouraged commercial kitchens in the area to try pre-rinse spray valves that helped save more than 20 million gallons of water.
Builder Partner of the Year
KB Home, a two-time WaterSense Builder Partner of the Year, built nearly 100 WaterSense-labeled homes in 2011 and introduced a model home designed to achieve net-zero energy use and the highest levels of water and other resource efficiency.
The Partner of the Year awards were presented at the WaterSmart Innovations conference in Las Vegas.
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