Griffon Announces Closing of Ames True Temper Acquisition for $542 - Griffon (NYSE:GFF)

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Griffon Corporation (NYSE: GFF) today announced the closing of the acquisition of Ames True Temper, Inc. from Castle Harlan Partners IV, a fund of Castle Harlan, Inc., for total consideration of $542 million, subject to certain adjustments, plus related transaction fees and expenses. Ames, headquartered in Camp Hill, PA, is the leading North American manufacturer and marketer of non-powered lawn and garden tools, wheelbarrows, and other outdoor work products to the retail and professional markets. The acquisition was completed under the terms of the purchase agreement entered into on July 19, 2010.

27% profit every 20 days?

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