(Reuters) -Spain's Cellnex said on Friday that it has signed a put option agreement to sell all its 99.99% share capital in Towerlink France to Vauban Infra Fibre for 391 million euros ($458 million). The deal, made through the French subsidiary of Europe's largest mobile phone tower operator, will be fully paid in cash on the closing date of the transaction. In September, Reuters reported - citing people familiar with the matter - that Cellnex was discussing with advisers a potential sale of its data ce ...

Summary of Central Garden & Pet Company (CENT) FY Conference Company Overview - **Company**: Central Garden & Pet Company (CENT) - **Date of Conference**: June 09, 2025 - **Key Speaker**: Brad Smith, CFO Key Points Management Changes and Strategy - Recent management changes include Nico becoming CEO and Brad Smith as CFO, with a focus on transitioning to a more agile culture that empowers business units (BUs) to make decisions [5][6] - The core strategy remains consistent, emphasizing innovation alongside cost reduction, which has become part of the company's DNA [7][8] - Mergers and Acquisitions (M&A) will focus on pet consumables and adjacent markets, moving beyond traditional pet and garden spaces [8][9] Pet Segment Dynamics - The pet segment is bifurcated into consumables and durables, with consumables showing resilience, particularly in dog and cat products [12][13] - Pet ownership demand is stabilizing, with dog ownership slightly below pre-pandemic levels and cat ownership slightly above [12][29] - Durables have contracted from approximately 35% of total pet sales during the pandemic to below 20%, attributed to declining demand and strategic consolidation [14][18] - The company is optimizing its durable product offerings to maintain profitability amidst increased competition from overseas [22][23] Garden Segment Dynamics - The garden business is highly weather-dependent, with sales fluctuating based on weather conditions [34][35] - Recent weather patterns have been challenging, impacting sales negatively, but there is potential for an extended selling season if favorable weather occurs [38][39] - The wild bird feed segment has performed well, countering the overall weather-related challenges [44][46] Market and Economic Factors - Tariffs and trade policies have impacted demand for durable products, leading to a shift in sourcing to countries with lower tariffs [25][26] - The stagnant housing market affects larger garden projects, with HELOC rates influencing consumer spending on major renovations [48] M&A and Growth Opportunities - M&A remains a priority, with a focus on pet consumables, particularly in the dog and cat segments, and potential growth in supplements [49][51] - The company is exploring adjacencies, such as pest control products, to expand its market reach [54] Retail and Distribution - The company continues to grow its online presence while facing challenges in the pet specialty retail channel [56][58] - Partnerships with large retailers like Walmart and Costco remain strong, with a shift towards online sales expected to continue [59] Capital Allocation - Priorities for capital allocation include M&A, internal investments for growth, and share buybacks, with a current focus on M&A opportunities [60] Additional Insights - The company is optimistic about the potential for growth in the pet consumables market, particularly in the cat segment, which has been underrepresented [52] - The psychological factors driving demand for wild bird feed indicate a growing consumer interest in this category [45]