Target Corp. has acquired the Smith & Hawken brand and other intellectual property from Smith & Hawken, previously owned by Scotts Miracle-Gro Company.
“We believe the Smith & Hawken brand complements our existing portfolio of owned brands and provides our guests with another compelling reason to shop Target,” Kathee Tesija, evp, merchandising, Target.
Scotts Miracle-Gro Company was prepared to liquidate its 56 stores unless the brand was sold. Financial terms of the deal weren't disclosed but Scotts had bought Smith & Hawken for $68.5 million in 2004.
Target already sells Smith & Hawken's outdoor furniture and other lines. Target’s current assortment includes outdoor furniture, gardening and décor pieces via Smith & Hawken for Target, which since 2006 has been available exclusively at Target stores nationwide and online at www.Target.com.
Target, which operates 1,740 units in 49 states, said it is “excited” about the opportunities for this brand and said it will soon offer more details on plans for expanded Smith & Hawken offerings.
