Scotts Miracle-Gro drops after announcing acquisition of Black Kow
SMG•Shares fall after Black Kow acquisition announcement
- Shares of U.S. lawn and garden supplier Scotts Miracle-Gro Co
SMG.Nfell 3% to $58.17. - The company said it will acquire gardening products maker Black Kow to expand its soil amendment portfolio.
- Scotts Miracle-Gro has not yet disclosed terms of the deal.
- The company said the acquisition is in alignment with its SMG 2.0 growth strategy.
- Four of seven brokerages rate the stock “buy” or above and three rate it “hold”; the median price target is $77.50, according to data compiled by LSEG.
- Including session moves, the stock has fallen 0.50% this year.
