Q.E.P. announced that it has agreed to acquire certain assets of Kraus Group. Kraus is a leading North American distributor of various hard surface flooring, carpet tile, and related accessories. Kraus will operate as a business unit of Q.E.P. The deal is expected to be complete in early October 2018.
Kraus stated in a separate announcement that "following an extensive marketing process, an agreement has been reached that will see Q.E.P. acquire Kraus’ hard surface and carpet tile distribution business. Kraus’ broadloom manufacturing operations in Waterloo, Ontario, will cease operations."