QEP Buys Equity Stake in Spanish Ceramic Tile Company
Boca Raton, FL, August 6, 2019-QEP has entered into a strategic partnership with a ceramic tile company headquartered in Spain. This strategic partnership combines the strength of QEP’s worldwide distribution with the tile company’s expertise in design, manufacturing, and quality.
Under the terms of this partnership, QEP has exclusive distribution rights in certain territories and has already secured a test with a major home improvement chain. QEP expects to have products in stock and available in the next 90 days.
In order to further align the interests of both companies, QEP has also purchased an equity stake in the tile company and will have a seat on its board of directors.
Commenting on the partnership, QEP’s Chairman and CEO, Lewis Gould, stated, “By adding ceramic tile to our current arsenal of flooring offerings, it will allow QEP to be more competitive in the global floorcovering industry and continue making deeper inroads into dealers, distributors and home centers, including a new opportunity to test these tile offerings in a major home improvement chain.”