Central Garden & Pet and Phillips Pet Food & Supplies Announces to Launch Strategic Pet Distribution Joint Venture

Published: 2026-04-13 14:51:05 ET CENT

Published on 04/13/2026 at 02:51 pm EDT

Central Garden & Pet announced a strategic partnership with Phillips Pet Food & Supplies to launch a strategic pet distribution joint venture. By bringing together two highly complementary platforms, the companies aim to create a stronger, more agile nationwide distribution network designed to accelerate growth opportunities, drive greater operational efficiency, and deliver enhanced service and capabilities to the companies? customers, employees, and vendor partners.

Under the terms of the agreement, Central will receive cash proceeds and retain a 20% ownership stake in the newly formed joint venture. Phillips and its existing investors, led by Axar Capital Management LP, will hold the remaining 80%, with the new business operating as an independent entity focused on scaling a differentiated, high-performance nationwide distribution platform. The joint venture will operate under the Phillips brand.

Current Central Pet Distribution employees are expected to transition to the new joint venture, ensuring continuity of service, expertise, and customer relationships. The formation of this joint venture positions Central?s distribution capabilities to scale, compete, and win as part of a larger, dedicated platform while sharpening the company?s focus on growing its branded portfolio. By combining Phillips?

strength in pet food with Central?s leadership in pet supplies, the joint venture is expected to create a more agile, efficient, and service-oriented network, with expanded reach and improved access for retail and independent partners across the United States. The new business will be led by Blaine Phillips, CEO and Chairman of Phillips. The new business will operate as an independent entity focused on scaling a differentiated, high-performance nationwide distribution platform.

As Central continues to execute on its Central to Home strategy, this joint venture represents a meaningful step toward advancing its branded growth strategy while positioning its distribution business for long-term success and supporting value creation for shareholders. Central was represented by Orrick, Herrington & Sutcliffe LLP as legal advisor and Ducera Partners LLC as financial advisor. Phillips was represented by Davis Polk & Wardwell LLP as legal advisor.