Flooring America Florida Buys Sarasota Retailer

Tampa, FL, April 1, 2008--Flooring America Florida, the 33rd largest flooring retailer in America, said it has completed the acquisition of all three G.Fried Flooring stores in Sarasota and Venice, Fla.

The acquisition of the $10 million retailer is part of a five-year strategic plan to reach $60 million in sales in 60 months. Terms of the deal were not disclosed.

Rufus Ashby, CEO and owner of Flooring America Florida said, "The acquisition of G. Fried Flooring represents both a strategic step in our vision and growth plans, as well as an opportunity to bring a well-run company like G. Fried into our fold.”

Ashby said he was not actively looking to acquire another company for the next 12 to 18 months and had planned to focus on same store sales and organic growth.

The acquisition of G. Fried Flooring by Flooring America Florida should result in total revenues of over $40 million annually and place it among the top 25 flooring retailers in America.