Griffon may offer notes to fund $260 million ClosetMaid acquisition

By Wendy Van Sickle

Columbus, Ohio, Sept. 5 – Griffon Corp. may offer senior notes to fund its acquisition of ClosetMaid Corp., according to a press release.

Griffon entered into a definitive agreement to acquire the Ocala, Fla-based maker of home storage and organization products, for $260 million from Emerson. The company said it may also use cash on hand or draw on its revolving credit facility to fund the acquisition, which is expected to close by the end of the month.

Griffon is a New York-based management and holding company that conducts its business through three segments: home and building products, telephonics and plastics.

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