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Much loved industry figure passes away after cancer battle
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Bunnings UK boss to take a three month break
New Year Greetings to all our readers
When will the For Sale sign go up at Wyevale GCs?
So what went on behind closed doors at the Wyevale suppliers meeting.?
Rising Stars 2017 - The final 12
Owners of garden centre face £21,000 bill after selling 'dangerous' items
Wyevale Garden Centres announces shift away from acquisitions
Wyevale Garden Centres named on 'worst to work for' list
Sad news - Alistair Lorimer dies
Durston Garden Products HOLD prices for 2018
New display ideas, new products, new suppliers at Bunnings first UK garden centre - GTN Xtra picture exclusive
Retail ops restructured as going gets tough for Wyevale GCs
All eyes will be on how Wyevale GCs plans to replace 'unsustainable' growth strategy with core business focus
Sir Terry and Mr M...unfinished business at Dobbies?
Mothers Day bonanza as garden centre records are broken across the country
We cleared out Homebase management too quickly, confesses parent company's new CEO
Carol Paris is leaving the HTA
Dobbies "gets together with Ocado to be the best on-line"
Nicholas Marshall is back in the gardening industry as CEO of Dobbies
Newshound finds Mr M has been busy recruiting 'experience'...
Terra Firma props up Wyevale Garden Centres
So this is what a Bunnings Warehouse looks like...
A bittersweet moment says Scott CEO as he announces UK, Europe and Aussie sell-off
Gardman reports £1.5m loss - but earnings soar by 50%
Blue Diamond buys Bridgford Garden Centre
Exponent Private Equity to buy Scotts business in UK, Europe and Australia
Brothers sell £15m Yarnton Nurseries business
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Glee to hold two shows per year from 2018 onwards
Garden retailers sign up to industry Xylella statement
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Woodlodge win GCA Associate of the year Award
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"Xylella is the most serious situation I have come across in 32 years in the industry"
MEP's vote to ban glyphosate completely by 2022
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Coolings buys Potted Garden Nursery at Maidstone
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New men at the top at Hillier
Xylella fastidiosa: how Italy has tackled the problem
Town & Country is sold to EP Barrus
Supplier rebates to exceed £1.5m for Choice members
"Garden Centre of the Future" planned for new outlet retail centre at Downtown Grantham
Bunnings UK No. 3 - Hemel Hempstead in pictures
Shoplifting costs retailers £800m a year says research
Scotts: We want out of Europe...but we won't give the business away
New trade show will demonstrate how to cater for vegans
Historic exhibition and new branding for Dobbies
Exciting new-build garden centre underway
Bunnings - Homebase - sales drop by £44m
Glyphosate licence approved for 5 years
2017: A year of transition for the garden centre trade
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Scotts: We want out of Europe...but we won't give the business away
No 45 Most Read Story 2017. First published: Sunday 5 February, 2017

Scotts Miracle-Gro’s finance chief in the US has re-iterated the company’s plans to sell its European business – but told investors: “We’re not looking to give it away.”

In a Q1 results conference call last week (Tuesday), Randy Coleman (executive VP and CFO) said: “We maintain our bias to exit the European marketplace, and as we said in the past, we've been marketing this business for some time. We still view this as a good business, and we're not looking to give it away. So anything we do must be based on an attractive valuation. I'm cautiously optimistic we will get something done, but I don't want to commit too much, too soon.”

He said he was still hoping for a deal “by spring” but they would continue to run the business if a buyer was not found, despite the adverse effect on the company’s operating margin.

CEO Jim Hagedorn suggested that if the company hit its targets this year, operating margin would increase by more than 250 basis points [2.5%]. “If we exit Europe, that improvement climbs to 350 basis points....I don't think you find a more sort of American company than us.”

During the call, Hagedorn confirmed he was a supporter of Donald Trump. “I voted for him largely because, I expected it to be good for our business, and I hope that turns out to be the case,” he said.

The sell-off is designed to enable the group to focus on its Stateside core business and new ventures, including its fast-growing hydroponics division. It will remove a significant distraction for the US company, but last week’s comments will reassure Miracle-Gro stockists that the company still regards its European business as a valuable commodity.

Conference call transcript source:

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