Q.E.P. Buys Hardwood Flooring Firm ArborCraft

Boca Raton, FL, Jan. 26, 2010--Q.E.P. Co. said it is acquiring hardwood flooring manufacturer ArborCraft, LLC.

The closing is expected to occur next month.

ArborCraft, formerly Harris-Tarkett, was founded in 1898 as The Harris Manufacturing Company and has evolved into a leading North American hardwood flooring manufacturer.

"We expect the acquisition of ArborCraft to add considerable strategic value to the company," said Lewis Gould, Q.E.P.'s chairman of the board.

"This acquisition fits our overall strategy of leveraging all the Q.E.P. and Roberts products on a worldwide basis to become a 'single source' supplier. This will allow the company to market underlayment, tools, adhesives, flooring, waxes, polishes, moldings and other products to become a 'one stop shop,' providing more value to our customers.

"This strategy will apply on a worldwide basis to Q.E.P.'s operations in Europe, Australia and South America. This is an exciting opportunity to build another platform for new domestic and international growth through the expansion of both our product line and our channels of distribution."

ArborCraft employs approximately 190 people operating out of three facilities located in Johnson City, Tenn. and Montpelier, Ind. The primary facility located in Johnson City includes over 300,000 square feet of manufacturing and drying space in addition to a 192,000 square foot lumber yard on over 43 acres of an owned facility.

The second Johnson City facility has over 100,000 square feet of additional drying and manufacturing space on four acres of an owned facility.

The third facility, located in Montpelier where high-quality hardwoods are readily available, includes 100,000 square feet of leased manufacturing and drying space on approximately 20 acres where ArborCraft manufactures engineered wood panels for use in the final manufacturing and finishing processes that occur in Johnson City.

Q.E.P. Co., Inc., founded in 1979, is a worldwide manufacturer, marketer and distributor of a broad line of flooring tools and accessories for the home improvement market.