The $250m deal was announced in May. Scotts is expected to cut spending on areas such as Chelsea Flower Show and corporate hospitality, but could keep up its marketing and TV spend.
The purchase includes Scotts Miracle-Gro operations in Australia, Austria, Belgium, France, Germany, Poland and the U.K. Scotts Miracle-Gro brands and products would continue to be manufactured and marketed in Europe and Australia as a result of licensing and sub-licensing agreements.
In Europe, the brands include Roundup, Weedol, Pathclear, EverGreen, Levington, Miracle-Gro, KB, Fertiligène, Substral, Osmocote and Naturen, the availability of which is dependent upon the country. Among the brands in Australia are Scotts, Osmocote, Naturen, Roundup, Home Defense and Pure Organics.
Exponent has appointed a senior leadership group to lead the international business based out of the UK office in Frimley, Surrey. Karl Kahofer, formerly of Britax, will lead the international group as chief executive officer alongside Ted Linehan, from Kelloggs, as chief commercial officer and Martin Lofnes, from Quorn, as chief finance officer.
UK country manager Sheila Hill said: "We look forward to strong investments in our brands and categories with more media and innovation. In the meantime we are focused on being ready for next season and ensuring we continue to deliver an excellent service to our customers and consumers."
Simon Davidson, partner at Exponent, said: "These are market-leading garden care brands loved by consumers around the world. We look forward to working with ScottsMiracle-Gro and investing further in advertising and innovation to continue to grow these brands and unlock the full potential of the business.
Exponent is a private equity firm investing primarily in businesses with significant presence in the UK with enterprise values between £75m and £400m.