Tarkett to Bundle Products Under Tarkett Hospitality Brand
Solon, OH, August 30, 2018-Following its acquisition of Lexmark, Tarkett will launch the Tarkett Hospitality brand, led by Paul Cleary, current CEO of Lexmark.
The brand will offer a suite of products for the hospitality sector, including Axminster from Desso, Powerbond from Tandus Centiva, room carpet from Lexmark, and stair treads and cove base from Johnsonite.
Andrew Bonham, CEO and president of Tarkett North America, reports, “We like the long-term prospects for growth in the hospitality sector; that was our strategy for the acquisition.”
As it has in the past, the company will maintain the Lexmark company brand as a product brand, believing that this will eliminate the need for specifications to be changed. Hospitality is a heavily specified sector.
Floor Focus estimates that Tarkett Hospitality will be the third largest flooring organization serving the hospitality sector.
Lexmark, which had sales of $120 million in 2017, was started by Todd White in 1993, with manufacturing operations in Dalton, Georgia. H.I.G. Capital made a strategic investment in Lexmark in September 2013. And in mid-2015, Lexmark acquired another Dalton-based hospitality manufacturer, Northwest Carpet, which focused on supplying solution-dyed broadloom carpet to hospitality market and had sales of $30 million, according to Floor Focus estimates.