New Zealand's Flooring Brands Buys Aussie Firm

Auckland, NZ, Jan. 12, 2011 -- Flooring Brands of New zealand said it has acquired Australian firm Master Kelwin Floors, increasing the group's worth to $260 million.

Master Kelwin has been operating in Australia since 1972 and is the largest commercial flooring business in Australia.

It is the company's second deal in Australia, the first being the purchase of Melbourne Carpets Specialists in 2007.