US-based retail chain Central Garden and Pet has set up a $20m corporate venturing unit under new hire Jon Balousek, a former executive vice-president at consumer goods producer Clorox.
Under Balousek as president of corporate development, Central Ventures will target North American startups in the garden and pet industries concentrating on sustainability, health and wellness, and digitally-connected products and services.
The move formalises Central’s existing venture investments over the past five years, in companies such as Casco Pet, Lucy Pet and Back to the Roots.
Tim Cofer, CEO of Central Garden and Pet, said: “Our new ‘Central to Home’ strategy includes a renewed focus in venture that will bring exciting new products and capabilities into the organisation.
Balousek added: “Our deep history of growing through acquisitions, rooted in an entrepreneur-friendly culture is ideal for creating winning partnerships.”
