Chagrin Falls, OH, Sept. 26, 2012 -- Tarkett said it has acquired commercial carpet maker Tandus Group Inc.
The move allows Tarkett to expand into the commercial carpet business in North America and Asia Pacific, and enhances each company’s ability to provide their customers a broader range of products and services.
The transaction will close on Sept. 28. Terms were not disclosed.
“This acquisition is aligned with our mission to enhance our customers’ return on investment and quality of life, now offering complementary solutions in both hard and soft surfaces” said Michel Giannuzzi, Tarkett Group CEO in a press release.
“Thanks to this strategic move, we will reinforce our position as a global leading flooring provider, extending our activities in the commercial carpet market in North America while further developing our footprint in the fast growing Asian markets. Leveraging the combined strength of Tandus and Tarkett, we will continue to grow faster than the market”.
With annual sales of $340 million and 1,400 employees, Tandus Flooring serves architects, designers, end-users and service providers in the specified commercial markets in North America and Asia.
Tandus has five production sites in the U.S. and Canada and one site in China to serve the Asian markets.
Tandus produces a unique product line that includes hybrid resilient, modular carpet, and higher-end broadloom and woven products.
The group has earned a reputation as an innovator through product advances such as Powerbond, the industry’s first hybrid resilient sheet.
Tandus is equally viewed as a design leader, winning eight Best of Neocon Awards over the past five years including a 2012 Gold for its Needle Tech broadloom collection. It has also launched the industry’s first closed-loop recycling program.
Tandus will continue to operate as a separate entity within Tarkett’s North American division, maintaining current manufacturing, business operations and routes to market. President Glen Hussmann will continue to manage the business.
“This can provide Tandus a solid base for international expansion," Hussman said.
Jeff Buttitta, President of Tarkett North America says the growth opportunities the acquisition creates are significant.
“End users and specifiers are searching for strong partners who understand the extraordinary demands placed on projects and who have the capabilities to deliver full solutions that incorporate a wide array of products and services. Together, Tarkett and Tandus will reach $1 billion of total sales in North America. We will now offer a broad commercial portfolio of soft and hard surfaces, have a deep and experienced field organization and hold strong positions in the education, corporate and healthcare segments. In the future, we will leverage our combined resources for accelerated product innovation, integrated design activities and joint sustainability initiatives that will provide our customers with greater choice in products and services with worldwide capabilities.”