Scotts enters lawn care retail game.(Smith and Hawken Inc.'s acquisition)

MARYSVILLE, OHIO -- The Scotts Company, the world's largest supplier of lawn care products, will tackle retailing for the first time with its pending acquisition of outdoor living goods retailer Smith & Hawken and its exclusive brands.

Smith & Hawken, an upscale lawn & garden chain that operates 56 stores, a catalog and e-commerce site, had been for sale by DDJ Capital Management, which acquired the company in 1999. Smith & Hawken expects to report 2004 revenue of $145 million, of which about one-third comes from catalog and Internet sales. Scotts will pay about $72 million for Smith & Hawken, including the assumption of $14 million in existing debt. The deal is …