LOS ANGELES, CA / ACCESS Newswire / April 30, 2026 / Pacific Avenue Capital Partners ("Pacific Avenue"), a leading global private equity firm focused on corporate carve-outs and other complex situations in the middle market, announced today that an affiliate of Pacific Avenue has entered into a definitive agreement to acquire Oldcastle Lawn & Garden, Inc. (the "Company") from CRH in a transaction valued at over $1.1 billion. Upon closing, the business will operate under its new name, GardenCore, marking the beginning of its next chapter as a standalone company.
GardenCore is a leading U.S. manufacturer of lawn and garden consumables, offering a broad portfolio of mulch, soil, stone, and lime products. The Company has deep, long-standing partnerships with major home improvement retailers and garden centers, and delivers consistent, high-quality execution across large-scale private label and branded programs. The Company has over 1,400 employees and operates more than 55 manufacturing facilities across the United States.
The acquisition of newly branded GardenCore is the latest example of Pacific Avenue's ability to effectively and seamlessly execute complex carve-outs of scale across a wide variety of industries. Under Pacific Avenue's ownership, GardenCore will focus its efforts on expanding its geographic footprint through greenfield development and acquisitions, while investing in its premium product lines to drive growth.
"We are excited to partner with GardenCore and welcome the business into the Pacific Avenue portfolio. This investment underscores our commitment to executing complex carve-outs of scale to acquire market-leading businesses while being the go-to partner for corporate sellers. It also represents our first transaction that exceeds $1.1 billion in enterprise value. We look forward to working closely with the management team to execute our strategic plan and pursue add-on M&A opportunities to drive above-market growth and long-term platform enhancement. GardenCore is a clear category leader with a national footprint, strong market positions, and differentiated offering. The business is well-positioned to capitalize on attractive market growth opportunities across its core product categories."
-Chris Sznewajs, Founder and Managing Partner of Pacific Avenue
The transaction is expected to close in early May 2026, subject to customary closing conditions.
Jefferies Group served as exclusive financial advisor to Pacific Avenue. Weil, Gotshal & Manges LLP served as legal advisor to Pacific Avenue. BofA Securities acted as the exclusive financial advisor to CRH.
About GardenCore
GardenCore is a leading U.S. manufacturer of lawn and garden consumables, offering a broad portfolio of mulch, soil, stone, and lime products. The Company has deep, long-standing partnerships with major home improvement retailers and garden centers, and delivers consistent, high-quality execution across large-scale private label and branded programs. The Company has over 1,400 employees and operates more than 55 manufacturing facilities across the United States. For more information, visit www.gardencore.com.
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners is a global private equity firm, headquartered in Los Angeles with an office in Paris, France. The firm is focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue has extensive M&A and operations experience, allowing the firm to navigate complex transactions and unlock value through operational improvement, capital investment, and accelerated growth. Pacific Avenue takes a collaborative approach in partnering with strong management teams to drive lasting and strategic change while assisting businesses in reaching their full potential. Pacific Avenue has more than $3.7 billion of Assets Under Management (AUM) as of December 31, 2025. The members of the Pacific Avenue team have closed over 120 transactions, including over 50 corporate divestitures, across a multitude of industries throughout their combined careers. For more information, please visit www.pacificavenuecapital.com.
About CRH
CRH is the leading provider of building materials critical to modernizing infrastructure. With our team of 83,000 people across 4,000 locations, our unmatched scale, connected portfolio, and deep local relationships make us the partner of choice for transportation, water, and reindustrialization projects, shaping communities for a better tomorrow. CRH (NYSE:CRH) is a member of the S&P 500 Index. For more information, visit www.crh.com.
Chris Baddon
Managing Director
cbaddon@pacificavenuecapital.com
SOURCE: Pacific Avenue Capital Partners
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/pacific-avenue-capital-partners-acquires-oldcastle-lawn-and-garden-f-1162532
