Central Garden & Pet Takes a Majority Stake in TRIXIE

The U.S. lawn and pet company is buying into Europe's leading pet supplies maker as it pushes its Central to Home strategy across the Atlantic.

By Good Company Editorial Desk

By Good Company Editorial Desk | September 29, 2026

The News

Central Garden & Pet announced on July 27, 2026 that it has signed a definitive agreement to acquire a majority interest in TRIXIE Heimtierbedarf GmbH & Co. KG, the German company it describes as Europe's leading pet supplies and pet snacks business. The stake is being purchased from founder Bonnik Hansen and current shareholders Dirk Jessen and Volker Haak, who will retain a minority interest. TRIXIE's existing leadership team will remain in place. In its fiscal third-quarter 2026 results announcement in August, Central specified the terms: an 80 percent interest for 340 million euros in cash at closing, plus up to 60 million euros in additional earn-out payments, for total consideration of up to 400 million euros.

Central's chief executive, Niko Lahanas, framed the deal as a major step in expanding the company's European presence under its Central to Home strategy, which aims to bring more of the company's portfolio directly to consumers. The transaction is expected to close in the first half of Central's fiscal 2027, subject to regulatory approval and customary closing conditions.

Why It Matters

This is Central Garden & Pet planting a flag in the European pet market with a single move rather than building one store or brand at a time. TRIXIE gives the company immediate scale: a 50-year-old manufacturer with its own brands, its own product development pipeline, and relationships with more than 30,000 pet retail stores internationally. For a U.S. company whose pet segment has historically been North America-centric, the deal meaningfully changes the geographic balance of the business.

The structure also matters. By taking a majority stake while the founder and existing shareholders keep a minority position and management stays on, Central gets operational continuity and local expertise without having to integrate an unfamiliar European business from scratch. It is a partnership-style acquisition, which tends to preserve the brand equity that made the target attractive in the first place.

The Numbers

TRIXIE, founded in 1974 and based in Tarp, Germany, employs around 600 people and offers more than 6,000 products spanning dogs, cats, birds, reptiles, and small animals. Roughly 90 percent of its sales come from its own brands, and the company introduces about 500 new products per year. Central puts the European pet supplies and snacks market at roughly 10 billion euros annually, which gives a sense of the pond TRIXIE swims in.

At up to 400 million euros for 80 percent, the deal values TRIXIE at up to 500 million euros on a full-enterprise basis before the earn-out. That is a serious multiple for a pet supplies manufacturer, and it signals how highly Central values an established European platform with its own brands and logistics. The earn-out structure shares risk: if TRIXIE hits its targets, the sellers collect the extra 60 million; if not, Central keeps it.

What To Watch

The first test is whether Central can grow TRIXIE without breaking what works. TRIXIE's product engine (500 launches a year) and its retailer relationships are the assets; the risk in any cross-border acquisition is that new ownership slows decision-making or pushes a U.S. playbook onto a European assortment. The second test is whether this is the first of several European moves. Lahanas tied the deal explicitly to the Central to Home strategy, which suggests the company sees Europe as a growth frontier rather than a one-off bet.

The second test is whether this is the first of several European moves. Lahanas tied the deal explicitly to the Central to Home strategy, which suggests the company sees Europe as a growth frontier rather than a one-off bet.

Sources

Central Garden & Pet to Acquire a Majority Interest in TRIXIE (Business Wire, July 27, 2026)

Central Garden & Pet Announces Q3 Fiscal 2026 Financial Results (Business Wire, August 2026)