Scotts Miracle-Gro buys Canadian firm

October 6, 2014

Scotts Miracle-Gro agreed to buy a Canadian company that specializes in peat moss.

Scotts' Canadian subsidiary acquired Fafard and Brothers Ltd., a Quebec-based manufacturer of peat moss and other gardening products. The purchase will add $40 million to Scotts' annual sales, according to a press release.

Fafard produces peat moss along with peat and bark based mixes, composts and soils. Fafard's primary markets are the Canadian provinces of Ontario, Quebec and New Brunswick.

"Acquiring Fafard will allow us to further strengthen our North America competitiveness," said Jim Hagedorn, chairman and CEO of Scotts Miracle-Gro, in a statement.