Apta have today, 2nd December, 2019, announced that the business has been acquired by The AMES Companies, a leading supplier of non-powered landscaping products in the USA, Canada and Australasia. The broad range includes garden tools, wheelbarrows, planters, garden hoses and lawn accessories. AMES (www.ames.com) has a long history dating back to 1774 and is excited about expanding its presence in the UK market, with Apta joining its other UK businesses: Kelkay, La Hacienda and Anchorfast.
AMES itself forms part of Griffon Corporation (NYSE: GFF), a diversified U.S. public company with a turnover of over $2.2billion that conducts its business within the Home and Building Products, Consumer and Professional Products, and Defence Electronics markets.
Apta has grown its business significantly in recent seasons to establish itself as the leading supplier of planters and accessories to the UK garden centre market. The present management team will continue to run the business, with Paul Sykes remaining as Managing Director.
Paul comments, “This is a terrific development for our business, and we have great confidence that the many employees, customers and suppliers of Apta will benefit from our new ownership structure. As part of the global AMES team, we are well positioned to continue to grow via a strengthened supply chain and broadened product portfolio”.
For further information please contact Apta on 01233 621090.
A statement on the Griffon Corporation website this afternoon said: "Griffon Corporation (“Griffon” or the “Company”) (NYSE:GFF) announced that its subsidiary, The AMES Companies, Inc., (“AMES”) acquired Vatre Group Limited (“Apta”), a leading United Kingdom supplier of innovative garden pottery and associated products sold to leading UK and Ireland garden centers. This acquisition enhances our ongoing AMES UK expansion strategy.
The purchase price for Apta is approximately $10 million and is expected to contribute approximately $15 million in annualized revenue and be accretive to Griffon’s earnings in the fiscal year ending September 30, 2020.