Mannington Mills to Acquire Phenix Flooring and Pharr Fibers and Yarns
Salem, N.J. -- Mannington Mills announced that it has signed an agreement to acquire Phenix Flooring and Pharr Fibers and Yarns from Pharr USA. This acquisition is Mannington’s first foray into the residential carpet business.
“This acquisition is very exciting for Mannington and for our customers,” said Russell Grizzle, Mannington president and CEO. “Residential carpet remains the largest category, and the time is right for Mannington to include it as part of our residential portfolio. We also look forward to providing high quality carpet yarn to customers worldwide. The synergies between Mannington and Pharr make this a logical move. Like Mannington, Phenix focuses on driving unique value to the customer, is a leader in style and design, offers world-class customer service, and is committed to domestic manufacturing. In addition, it is a family owned business and the corporate cultures are very similar.”