Griffon Corporation Announces the Acquisition of Quatro by AMES
Griffon Corporation (NYSE:GFF) has announced the acquisition of Quatro Design Pty Ltd, enhancing its subsidiary AMES’s presence in Australia. Quatro, known for its glass fiber reinforced concrete landscaping products, is projected to contribute around $5 million in annualized revenue, which will positively impact Griffon’s earnings in the fiscal year ending September 30, 2021. This marks AMES’s sixth acquisition in Australia since 2013, further expanding its product offerings and sales channels.
- Acquisition of Quatro is expected to generate approximately $5 million in annualized revenue.
- The deal will be accretive to Griffon's earnings for the fiscal year ending September 30, 2021.
- Expands AMES's product portfolio and sales channels in the Australian market.
- None.
Griffon Corporation (“Griffon” or the “Company”) (NYSE:GFF) announced that its subsidiary, The AMES Companies, Inc., (“AMES”) acquired Quatro Design Pty Ltd (“Quatro”), a leading Australian manufacturer and supplier of glass fiber reinforced concrete landscaping products for residential, commercial, and public sector projects. This acquisition is the sixth for AMES in Australia since 2013, and further expands AMES’s product portfolio and sales channels in the Australian market. Quatro is expected to contribute approximately
About Griffon Corporation
Griffon is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital.
Griffon currently conducts its operations through three reportable segments:
- Consumer and Professional Products (“CPP”) conducts its operations through The AMES Companies, Inc. (“AMES”). Founded in 1774, AMES is the leading North American manufacturer and a global provider of branded consumer and professional tools and products for home storage and organization, landscaping, and enhancing outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including True Temper, AMES, and ClosetMaid.
- Home and Building Products conducts its operations through Clopay Corporation (“Clopay”). Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America. Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the CornellCookson brand.
- Defense Electronics conducts its operations through Telephonics Corporation, founded in 1933, a globally recognized leading provider of highly sophisticated intelligence, surveillance and communications solutions for defense, aerospace and commercial customers.
For more information on Griffon and its operating subsidiaries, please see the Company’s website at www.griffon.com.
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FAQ
What is the strategic importance of Griffon Corporation's acquisition of Quatro Design Pty Ltd?
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