Griffon forms Veritage Brands joint venture with ONCAP combining AMES North America and Venanpri assets

Reuters2026/08/07 21:02

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Griffon formed a joint venture with ONCAP to combine AMES North America with ONCAP-owned Venanpri’s hand tools and outdoor products businesses.
The venture, Veritage Brands, closed on June 9, 2026; ONCAP holds 57% equity, Griffon holds 43% and will account for the stake under the equity method.
Griffon received USD 100,000 in cash, a USD 161.1 million second-lien PIK debt receivable, and a 43% equity interest initially carried at USD 118.6 million.
The transaction is part of a strategy to shift to a pure-play residential and commercial building products company, with AMES operations reported as discontinued.
Griffon recorded a USD 26,603 loss on the Veritage closing during the nine months ended June 30, 2026, including costs to sell.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Griffon Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-26-054906), on August 07, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Griffon forms Veritage Brands joint venture with ONCAP combining AMES North America and Venanpri assets

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