Smith & Hawken
Helped the Scotts Miracle-Gro Company wind down its Smith & Hawken retail operations to support Target Corp.’s acquisition of the brand and intellectual property.
Client smith & hawken
By The Numbers
Generous fee-based remuneration with significant success-based bonus
The Scotts Miracle-Gro company made the strategic decision to close its Smith and Hawken retail stores and looked to Gordon Brothers to provide operational support and retain brand value for a subsequent acquisition. To minimize consumer disruption and maintain customer and vendor relationships, we worked with Smith & Hawken to elongate the sale term. This allowed us to carefully negotiate lease terminations and market the properties to reassign the leases. The project structure and timeframe also enabled seamless on-order and distribution center merchandise flow to support the inventory sale, as well as providing flexibility to handle sensitive human resource issues.
Following the closure of the stores, Target, which had carried Smith & Hawken products since 2006, announced that it had acquired the brand and other intellectual property. The project provided recoveries on the hard assets in excess of expectations and facilitated a smooth brand ownership transition with minimal impact to consumer perception. The brand remains a staple of Target’s home and outdoor furnishings assortment today.