Central Garden & Pet increases stock buyback program by $100 million

Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) announced its board of directors authorized an additional $100 million for its stock repurchase program.

The Walnut Creek, California-based consumer goods company said the board approved the increase to purchase the company's common stock and Class A common stock. The company stated that acquiring its shares appears advantageous because management considers the current market price undervalued.

The repurchase program allows the company to buy shares through open market and privately negotiated transactions, including Rule 10b5-1 trading plans. The timing and number of shares purchased will depend on factors including price, corporate requirements, capital availability and market conditions.

The stock buyback program has no expiration date and may be modified or terminated without prior notice, according to the company's statement.

Central Garden & Pet operates in the pet and garden industries with brands including Amdro, Aqueon, Kaytee, Nylabone and Pennington. The company reported fiscal 2025 net sales of $3.1 billion and employs over 6,000 people primarily across North America.

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