CapVest, Duke Street in second round for Evergreen Garden Care

An undisclosed French industry player is also in the race for the UK-based garden care products company, according to one of the sources.

Vendor Exponent is expected to collect final offers at the beginning of December, one source added.

Duke Street, which owns Germany-based fertilisers supplier Compo, would be able to extract significant synergies if it was to win the auction and combine the businesses, a third source familiar said.

Exponent launched the sale in October, advised by Rothschild, as reported by Mergermarket. KKR, CVC, Clayton Dubilier & Rice, Bain Capital, PAI Partners and California-based Central Garden & Pet were reported to be among those likely to bid for the asset.

Evergreen has EBITDA of EUR 60m-70m and is expected to be valued at 10-13x EBITDA, according to the same report.

The company operates in the garden consumables space with brands including Evergreen, Roundup, Miracle-Gro, Weedol, KB, Substral and Nexalotte, as per its website.

Evergreen, Exponent, Duke Street and Rothschild did not respond to request for comment. CapVest declined to comment.

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• Topics
• Exits
• Buyouts
• UK / Ireland
• Consumer
• Exponent Private Equity
• Mergermarket
• Duke Street
• CapVest Equity Partners