Garden manufacturer snapped up by US firm for £40 million
Kelkay, a manufacturer and distributor of decorative outdoor landscaping products has announced it has been acquired by Griffon Corporation, a US public company with approximately $2 billion in annual revenue, in a deal worth around $56 million (£40 million).
As part of the acquisition, Kelkay, which is based in Yorkshire, becomes part of The Ames Companies, the largest supplier of non-powered lawn and garden tools in US, Canada and Australasia.
Antony Harker and the Kelkay Board of Directors, which includes Richard Pyrah, Jonathan Wilson and non-executive, Bob Hewitt, will all remain in their current roles to continue the successful development strategy for the UK business.
In addition, Harker will take on the new role of managing director for The Ames Companies UK Ltd and will drive forward Ames’ expansion into UK gardening, which the company has identified as a strategic growth market.
Antony Harker, Ames UK Managing Director, said: “This is a very exciting time for Kelkay and it represents a major step forward for the business, the whole team and our customers. AMES has a major focus on developing their business in the UK. It is flattering that they have chosen to make Kelkay a key partner and investment opportunity to help them achieve their goals.
“Ames has made a long term commitment to the UK market and they share our values in terms of employees, suppliers and customers. I’m really looking forward to working with them.
“They are very supportive of our focus on garden centres, retailers and grocers and keen to ensure our personality as a business is protected. So, whilst there will be new development opportunities, our customers should continue to expect the same high level of service.”
Ames acquired La Hacienda in July 2017, for a reported $11 million (£8.4 million), and also operates a subsidiary in Co Cork, Ireland.