Protegrity Advises The Garden Dept. in its Acquisition by SiteOne Landscaping Supply
Protegrity Advisors, a leading M&A Advisory firm with headquarters on Long Island, has served as the advisor to The Garden Dept. in its acquisition by SiteOne Landscape Supply, the largest and only national distributor of landscape supplies in the United States, with more than $2 billion in revenue.
Founded almost 50 years ago, The Garden Dept. is a multi-generational family business which has been the premier full-service nursery and horticultural distribution center on Long Island with locations in Coram, Dix Hills and Speonk. According to owner Don Caroleo, who took over the reins from his father Vic in 2002, "Joining forces with SiteOne was a natural next step in our evolution, and will greatly benefit our customers and employees. Protegrity played a critical role in guiding all aspects of the transaction with SiteOne, including negotiating the financial terms and navigating the due diligence process, and the team s professionalism and responsiveness were exactly what I was hoping for and received."
"We are very pleased to complete our second transaction with SiteOne, having sold Bissett Nurseries to it in 2016," said Gregg Schor, CEO of Protegrity Advisors. "We know what a well-run organization it is and have great respect for its management team. Don remaining in his leadership role at The Garden Dept. and taking on additional responsibility as General Manager of Long Island for SiteOne was an essential element for all parties, and we have no doubt that this combination will be successful."
Justin Recchion, Senior Director Strategy, M&A and Investor Relations for SiteOne, added "It s important that we provide the best in service to the Long Island market, and The Garden Dept. helps us to meet that objective. Working with Protegrity enabled a great outcome for all parties and we look forward to doing so again."