KelKay bought by US company for $56 million!
Yet another British gardening company has been acquired by overseas investors. Kelkay, manufacture and distribute many decorative outdoor landscape products throughout the United Kingdom and Ireland. Earlier this week the Griffon Corporation announced that its subsidiary the aims company had acquired Kelkay a limited for some $56 million and is expected to contribute approximately $40 million in annual revenues.
While Kelkay have been seen as one of the high-flying companies are trade exhibitions in recent years with everything from decorative mulches to hard landscape and water features it is a great shame that our hard earned pounds will be going to some overseas investor in the form of profits. Sadly I've yet to see a takeover that has been good for the original company I only hope that this once great British company doesn't succumb to American market forces. Hopefully it will not be like the Australian Wesfarmers business in the UK under the banner of Brunning's which seems to be losing money and at alarming rate of knots.