One year ago, Mannington Mills announced that it had acquired Phenix Flooring and Pharr Fibers and Yarns, a move that propelled Mannington into the residential carpet business for the first time in the company’s 105-year history. 2020 may not have seemed like the ideal time to integrate new businesses under the Mannington Mills umbrella, but the company reports that it has weathered the storm and is seeing the benefits of the union emerge from behind the clouds that this past year has brought.
“The acquisition was finalized in the last week of January of 2020, just before the whole world shut down due to COVID-19," said Russell Grizzle, president and CEO of Mannington Mills. “We could never have anticipated what was to come, but I think we have come through it exceptionally well, and better as “One Mannington” than we could have as individual entities.”
The flooring industry was hit hard as the pandemic set in but rebounded during the summer and fall. “Everyone was staying home, which became a place for families to work, live and play," Grizzle said. "Vacations were put on hold and homeowners were allocating their disposable income dollars to remodeling instead of other activities like traveling."
“After a rough start, the market adjusted to the pandemic in the second half of 2020," said Zack Zehner, president of Mannington Residential. "We saw historic strength in existing home sales and new home construction, which has driven tremendous momentum for both hard and soft surface."
Adding to the momentum and of the acquisition are the synergies around Microban antimicrobial technology, the company said.
“A few years ago, when Phenix entered into an exclusive agreement with Microban for use on residential carpet, we did so because Microban is a leader in antimicrobial technology and a brand that has tremendous consumer awareness,” said Mark Clayton, president of Phenix Flooring. “Little did we know how relevant that topic would become in 2020. Mannington has leveraged this relationship and is now rolling out Adura products with Microban. It’s very exciting for us, it’s exciting for our retail partners, and it’s exciting for consumers as it answers a very timely concern around cleanliness in the home.”
“I continue to be so humbled and impressed by the hard work of our associates, as well as our customers, during this time,” Grizzle said. “They’ve shown grit and resilience in the face of changing times – and I don’t just mean the pandemic, but the integration of Phenix and Pharr. In all respects, the integration has been a success: business synergies, like the partnership with Microban, are taking hold and cultural fit between the organizations could not be better. We’re incredibly optimistic about our future and the opportunities that lie ahead.”
For more information, visit mannington.com.