Danville, VA, Apr. 1--Columbia Flooring today announced that it has completed
the acquisition of McMinnville Manufacturing Company, a producer of unfinished solid hardwood flooring located in McMinnville, TN.
The effective date of the purchase was March 31; terms were not disclosed.
This is Columbia's fourth acquisition in the past six months. Current projected 2004 overall hardwood flooring sales for the company are now expected to significantly exceed $250 million, according to Columbia
President David Wootton.
Wootton stated the company's continuous growth has demanded increased volumes of unfinished solid hardwood strip for finishing at its facilities in Holden, WV and Melbourne, AR.
"McMinnville Manufacturing has been in business for over 100 years and has a
reputation for high-quality manufacturing and customer service," Wootton said. "As such, it's a perfect fit for Columbia Flooring. In addition, its location enables us to widen the area from which we source lumber."
Bill Mullican, who along with his brother Jim has owned and operated McMinnville Manufacturing for more than 30 years, echoed Wootton's sentiments. "From our first meeting with Columbia, we felt comfortable with their plans for our company, including additional kilns and an extension to our lumber yard to provide raw materials for a second shift. Plus, the fact that Columbia Flooring is an employee-owned company means an exciting future for our employees." The Mullican brothers will continue to manage the daily operations of the McMinnville plant.
McMinnville Manufacturing was advised in the transaction by Harpeth Capital LLC of Franklin, TN.
