Danville, VA, Oct. 20--Columbia Flooring today announced that it has reached an agreement with North Pacific Group (Nor Pac) to purchase its ownership interest in Melbourne, Arkansas-based Century Flooring, a manufacturer of prefinished solid hardwood flooring.
The agreement took effect October 1; the purchase price was not disclosed.
“Our four-year relationship with Nor Pac has been very successful,” said Columbia Flooring President David Wootton. “Although there will be no change in the brands manufactured at the Century facility, following our recent acquisition of Millwood Flooring in Georgia and the ramp-up of operations in West Virginia, we needed outright ownership of Century in order to take advantage of the synergies and logistical benefits from our different operations.”
Columbia’s close relationship with Nor Pac enabled a quick and satisfactory agreement for both parties, Wootton said.
T.J. Tomjack, chairman of Nor Pac, echoed Wootton’s comments concerning the deal.
“We are very proud of the role Nor Pac has played in the success of Century Flooring,” Tomjack said. “We recognize that flooring is one of the cornerstones of Columbia Forest Products’ business, whereas our core business is building materials distribution and hardwood lumber manufacturing. It is logical this change should take place now.”
Wootton added, “The acquisitions of Millwood and Century take Columbia’s Flooring revenues past the $160 million level. It is our intention to continue to grow, and we will evaluate all opportunities that make sense and add value.”
