TRIXIE outlines growth strategy after Central Garden & Pet’s €400M acquisition

Earlier this week, Central Garden & Pet Company announced a definitive agreement to acquire an 80% majority stake in the German pet supply manufacturer TRIXIE.

The transaction, valued at up to €400 million ($458M), marks a major consolidation in the global pet industry, combining Central’s North American distribution capabilities with TRIXIE’s established European market presence. 

The financial structure of the acquisition includes an upfront cash payment of approximately €340 million ($389M) at closing, with an additional earn-out potential of up to €60 million ($68.7M) contingent upon TRIXIE’s fiscal 2026 performance metrics. 

TRIXIE currently generates approximately 90% of its sales from its proprietary brands and supplies more than 30,000 retailers worldwide. 

Central CFO Brad Smith identified M&A opportunities as one of the company’s objectives for 2026 during a conference in August 2025, citing weak consumer demand.

Closing expected in early 2027

In a conversation with GlobalPETS, TRIXIE emphasized that the acquisition will not result in immediate changes to its operating model.

“TRIXIE will continue to operate independently under its existing leadership team, maintaining its strong customer focus, entrepreneurial culture and market approach,” the company says. 

The existing management team – comprising CEO Dirk Jessen, CSO Burkhard Friedrichsen and CFO Danny Bollerey – will remain in place after the deal is finalized. 

The transaction is expected to close in early 2027, subject to customary regulatory approvals and other closing conditions. Until then, TRIXIE and Central Garden & Pet will continue to operate independently.

Integration and US expansion 

One of the main objectives is to provide TRIXIE with access to Central’s infrastructure. 

While it develops roughly 500 new products annually and maintains a dominant footprint in Europe, scaling in North America requires significant local presence. 

“The partnership provides access to additional resources, international expertise and expanded capabilities in areas such as sourcing, product development, logistics and market expansion, especially in the USA,” it says.

TRIXIE also sees “significant opportunities” in this agreement. “Central Garden & Pet brings extensive market knowledge, established distribution capabilities and a strong presence within the North American pet industry. This creates the potential to accelerate TRIXIE’s growth and brand awareness in the US.”

While the integration of operations is still months away, TRIXIE maintains that its core retail strategies will not shift. “While it is too early to discuss specific initiatives, we believe the partnership positions us well to expand our presence and better serve customers in this important market.”

An exceptional opportunity

Central Garden & Pet CEO Niko Lahanas described the acquisition as a “once-in-a-lifetime” opportunity that “overnight turns Central and Trixie into the largest pet supplies company globally.”

Lahanas disclosed that the acquisition was executed at a “high single-digit multiple.” “A lot of the risk has been taken out of the business because of the valuation that we’re getting it at,” he says. 

Central’s management expects the transaction to be accretive to both margins and earnings, citing cross-selling opportunities and sourcing synergies that are projected to begin materializing in the second year post-closing.

“Our management teams just clicked right off the bat,” says Lahanas. He added that the executives interacted as if they had “known each other for 10 years.”

Net sales in Central Garden & Pet’s pet portfolio grew 5% year-over-year (YoY) to $477 million (€421.3M) for the second quarter of fiscal year (FY) 2026, ended 28 March.