Target acquires Smith & Hawken brand
Minneapolis-based Target today acquired the Smith & Hawken brand and other intellectual property from Smith & Hawken, Ltd, a subsidiary of the Scotts Co., effective Dec. 30.
“We’re thrilled to own such an admired and iconic brand,” said Kathee Tesija, executive VP merchandising at Target. “We believe the Smith & Hawken brand complements our existing portfolio of owned brands and provides our guests with another compelling reason to shop Target.”
In 2008, Marysville, Ohio-based Scotts brought in former Home Depot executive Pat Farrah to manage the retail division back into profitability. Despite aggressive cuts in stores and staffing, the 56-unit Smith & Hawken retail chain went into liquidation last July.
Scotts, better known for fertilizers and pesticides than teak benches and English gardening shears, paid $72 million (including $14 million in debt) for Smith & Hawken in 2004. In the ensuing years, Scotts tried to boost revenues by broadening the brand’s merchandise and inking deals with True Value and Target, among other initiatives. Target has sold Smith & Hawken-branded lawn-and-garden products since 2006.
Terms of the deal were not revealed.
Hardware Show reacts to L&G demand
Reacting to demand for space in the North Hall of the Las Vegas Convention Center, National Hardware Show organizers created an additional lawn, garden and outdoor living area for the May 4 to 6 event.
Show organizers said they have sold out the North Hall, and sold out 90% of the show floor in total. The additional lawn, garden and outdoor living exhibition area will be located in a “high traffic location,” according to Norwalk, Conn.-based Reed Exhibitions, which runs the show.
The event will be organized under seven major product umbrellas: hardware and tools; homewares; lawn, garden and outdoor living; paint and accessories; plumbing and electrical; storage and organization; and international sourcing.
Around the Web: Home Valu Interiors is closing
The nine-store retailer was founded in 1963 by Rudy Boschwitz, a former U.S. Senator.
The company appeared in the 98th spot on the 2009 HCN Top 500 Industry Scoreboard, with 2008 sales of $100 million. The company was one place ahead of Roper Bros. Lumber, which closed its doors in December.