NEW YORK--(BUSINESS WIRE)--Griffon Corporation (NYSE:GFF) announced that its subsidiary, The AMES Companies, Inc., acquired Kelkay Limited, a United Kingdom manufacturer and distributor of decorative outdoor landscaping products sold to leading garden centers, retailers and grocers in the UK and Ireland.

The purchase price for Kelkay is approximately $56 million, and is expected to contribute approximately $40 million in annualized revenue and be immediately accretive to Griffon’s earnings in its first full year of operations.

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.