Camlee Group advise La Hacienda on its sale to the NYSE Listed Griffon Corporation
17 May 2017
A Gloucestershire-headquartered outdoor products business has been acquired by a US group in an $11m (£8.4m) deal. La Hacienda has been bought by The Ames Companies, a subsidiary of the New York Stock Exchange-listed Griffon Corporation. The company was founded by brothers John and Simon Goodwin and sells a range of outdoor heating and garden products to garden centres, as well as retailers including John Lewis, Next, House of Fraser and Homebase.
Griffon said the deal broadens Ames' global outdoor living and lawn and garden business and supports its UK expansion strategy. La Hacienda is expected to contribute about $18m (£13.7m) in annualised revenue to the group.
The Ames Companies, headquartered in Pennsylvania in the US, can trace its history back to 1774 and manufactures long-handled tools and landscaping products for homeowners and professionals. The company's wheelbarrows were recently featured in the White House Made in America Product Showcase.