Pacific Avenue Capital Partners, a prominent private equity firm, has finalized a significant acquisition of Oldcastle Lawn & Garden, Inc. for more than $1.1 billion. This acquisition not only marks a strategic investment for Pacific Avenue but also leads to the rebranding of the company as GardenCore.
Oldcastle Lawn & Garden, a leading manufacturer of lawn and garden consumables such as mulch, soil, stone, and lime products, has an established presence in the U.S. market. With a workforce exceeding 1,400 employees and over 55 manufacturing facilities nationwide, the company has built strong relationships with major home improvement retailers and garden centers.
As GardenCore, the company will concentrate on extending its geographical reach through new developments and acquisitions. Pacific Avenue intends to invest in enhancing its premium product offerings, expecting to drive growth in a competitive market. This strategy is aimed at positioning GardenCore as a leader in the lawn and garden consumables sector.
This acquisition is notable for Pacific Avenue, representing its ability to effectively manage and execute complex corporate carve-outs. According to Chris Sznewajs, the firm’s founder and managing partner, this purchase underscores their commitment to acquiring market-leading businesses. The transaction is projected to close in early May 2026, contingent upon customary regulatory approvals.
The financial advisory for Pacific Avenue in this transaction was provided by Jefferies Group, while Weil, Gotshal & Manges LLP served as the legal advisor. BofA Securities acted as the financial advisor for CRH, the current owner of Oldcastle Lawn & Garden.
The acquisition, valued over $1.1 billion, showcases Pacific Avenue's strategic focus on corporate carve-outs, highlighting their capability to execute complex transactions effectively. This move positions the newly branded GardenCore to take advantage of growth opportunities in the lawn and garden sector.
GardenCore aims to expand its reach through greenfield development and strategic acquisitions. Under Pacific Avenue’s guidance, the company will also invest in enhancing its premium product lines, which could drive significant revenue growth in a thriving market.
With over 55 manufacturing facilities and a strong workforce of 1,400 employees, GardenCore benefits from extensive operational capabilities. Its established partnerships with major retailers provide a solid foundation for market penetration and brand strength.
GardenCore is well-positioned to capitalise on attractive growth opportunities within the lawn and garden consumables market. Its status as a category leader and established customer relationships are advantageous for navigating industry trends.
Pacific Avenue's focus on complex carve-outs and deep operational expertise distinguishes it from peers. The firm's commitment to collaborating with management teams aims to unlock value and drive sustainable growth.
The transaction is expected to close in early May 2026, pending customary closing conditions. This timeline reflects Pacific Avenue’s efficiency in executing significant acquisitions quickly.
Investors can look forward to robust strategic growth initiatives from Pacific Avenue, particularly in identifying and integrating high-potential businesses. Their proven track record suggests a focus on delivering strong returns through operational improvements and market expansion.
CRH is the selling entity in this transaction, having recognised the value in divesting Oldcastle Lawn & Garden to allow for focused growth under new ownership. This strategic move aligns with CRH’s ongoing efforts to streamline its portfolio.