Central Garden & Pet will acquire an 80% majority stake in TRIXIE Heimtierbedarf for up to €400 million, combining the US pet-and-garden consumer-goods company with Europe’s leading pet supplies and pet snacks business.
Announced on July 27, 2026, the deal gives Walnut Creek, California-based Central Garden & Pet (NASDAQ: CENT, CENTA) a scaled European platform at a “high single-digit multiple,” according to CEO Niko Lahanas. TRIXIE — founded in 1974 in Tarp, Schleswig-Holstein by Bonnik Hansen — will continue to operate independently under its existing management, with founder Hansen, CEO Dirk Jessen and advisor Volker Haak selling to Central while Jessen and Haak retain a combined ~20% minority stake.
Deal structure
Central will pay total consideration of up to €400 million (~$458 million): approximately €340 million in upfront cash at closing, plus an earn-out of up to €60 million contingent on TRIXIE’s fiscal 2026 performance. The acquisition covers ~80% of TRIXIE’s outstanding shares; certain shareholders retain ~20%, with put/call rights exercisable after three years. The transaction is expected to close in the first half of Central’s fiscal year ending September 25, 2027, subject to regulatory approval.
TRIXIE: a €10B-market category leader
TRIXIE is the leading European pet supplies and pet snacks company. Headquartered at Industriestraße 32 in Tarp, it employs close to 600 people and serves more than 30,000 pet retail stores across Europe and beyond. Its catalogue spans 6,000+ products for dogs, cats, birds, reptiles and small animals — accessories, toys, treats, habitats, apparel, bedding and travel solutions — with roughly 90% of sales from its own-brand portfolio. An in-house design team launches around 500 new products per year.
The European pet supplies and snacks market is worth approximately €10 billion annually and is forecast to grow at a mid-single-digit rate, supported by pet humanization, premiumization, pet health and pet-tech tailwinds.
Why Central is buying
The deal is the centerpiece of Central’s “Central to Home” strategy to strengthen its pet and garden brand portfolio and expand internationally. After the close, roughly 10% of Central’s net sales will come from outside the United States — versus essentially zero today — and Central gains a platform to consolidate the fragmented European pet specialty market. Lahanas called the acquisition “once-in-a-lifetime,” adding that it “overnight turns Central and Trixie into the largest pet supplies company globally.” Central expects cross-selling and sourcing synergies to begin materializing in the second year post-close.
Leadership continuity
TRIXIE’s management team stays in place: Dirk Jessen (CEO), Burkhard Friedrichsen (CSO) and Danny Bollerey (CFO) will continue to lead the business. Volker Haak continues as a consultant. On the Central side, the deal was led by Niko Lahanas (CEO) and Glen Axelrod (SVP, Dog & Cat). Founder Bonnik Hansen, who built TRIXIE over 50 years from a single shop into a pan-European category leader, exits via the sale but praised the cultural fit: “It was important to us to find a company that shares our values, our culture, and our long-term thinking.”
Outlook
Until closing — expected early 2027 — TRIXIE and Central will operate independently. TRIXIE has signalled no immediate changes to its operating model, customer relationships or brand portfolio. Its near-term priorities are leveraging Central’s North American distribution to scale in the US (where it currently has limited presence) and continuing its ~500-product-per-year innovation cadence under the “Friends for Life” brand promise.
