Boca Raton, FL, September 28---Q.E.P. Co. announced that it has entered into an agreement to acquire all of the shares of P.R.C.I. SA, a French manufacturer and distributor of flooring and specialty tools to wholesale and retail markets.
Last year, PRCI had sales of approximately $3.2 million. The agreement is expected to be consummated prior to the end of October 2004 and will be Q.E.P.'s third acquisition since the start of the fiscal year and fifth acquisition in twelve months.
Q.E.P posted fiscal 2004 sales of $143.3 million, up 11% from 2003 sales of $129.3 million.
Last month the company acquired flooring underlayer maker Tuplex Corp., which had sales last year of $1.4 million. In March, Q.E.P acquired Crestwin Trade Supplies, an Australian distributor of flooring tools with sales of $5 million in 2003.
