Uncertain Future for Australian Icon Hills Hoist as Owner Announces Sale

Griffon Corporation, a New York-based conglomerate, has enlisted Goldman Sachs to explore various strategic options for AMES Australia’s portfolio, which includes the beloved Hills Hoist. This decision reflects Griffon’s strategy to concentrate its efforts and resources on the North American market, aiming to enhance shareholder returns.

Since acquiring AMES and its associated brands in 2017, Griffon Corporation has held the rights to several well-known Australian gardening and hardware products. However, the potential sale of these assets indicates a shift in the company’s business focus, leaving the future of these iconic brands, particularly the Hills Hoist, in question.

The company hopes to sell its Australian subsidiary to focus solely on North American markets to improve returns for shareholders.

The New York-listed conglomerate has owned the rights to the Hills Hoist and a host of other Aussie gardening and hardware brands since 2017 through the AMES subsidiary. 

‘AMES Australia has grown from a small business acquired as part of AMES in 2010 into a category leader in Australia and New Zealand,’ Griffon chief executive Ronald J. Kramer told investors earlier this month.

‘We will identify opportunities for our exceptional team in Australia to take the business to the next level while creating value for our shareholders.

‘Our strategic actions, taken together, will result in a fundamental refocusing of our businesses into a pure-play building products company.’

Other impacted brands include Cyclone garden tools, Pope hoses, Kelso wheelbarrows and Happy Tails pet toys, along with Bunnings brands Trojan, Craftright and Citeco.

Griffon Corporation will conduct a ‘comprehensive review of strategic alternatives’ for its Australian portfolio of brands, including the iconic Hills Hoist clothes line

The Hills Hoist has been an iconic Australian brand since the 1940s. Pictured is an ad in the Australian Women’s Weekly from 1956

Many AMES products are sold at hardware giants Bunnings and Mitre 10.

AMES Australia’s headquarters are based in Doncaster, Melbourne, with manufacturing plants in regional towns Wonthaggi and Grafton. 

Daily Mail has contacted AMES Australia for comment. 

AMES Australia is predicted to generate $AU56million in pre-tax earnings this financial year, according to Griffon.

The company has also initiated a similar review for its AMES operations in the UK.

The Hills Hoist brand was originally owned by Hills, founded in 1945 in Adelaide by Lance Hill, who invented the iconic clothes line which rotated with the wind. 

It revolutionised the way laundry was dried outdoors and soon became an iconic symbol of Australian suburban life.

The company continued to diversify over the years, manufacturing TV antennas, automotive components, electronic security, and healthcare technology.

The Hills Hoist is among a host of Aussie brands which are part of the AMES portfolio

Hills Limited sold the manufacturing and sale rights of the Hills Hoist to AMES Australasia in 2017, after concluding it could not make money from the iconic product.

Hills transitioned into a tech company and went into administration in 2023 after losing a court battle with a $5.48million payout.

AMES Australia clarified at the time that the iconic clothesline was not on the chopping block and had ‘no affiliation’ with Hills Limited. 

‘We’re not going anywhere,’ a statement on the Hills Hoist website read.