ST. LOUIS—Color Tile L.L.C. and Alliance Flooring, doing business as CarpetsPlus, recently signed a letter of intent for the transfer of Color Tile’s intellectual property, including the Color Tile trademark, and licenses for its members to Carpets Plus. The transaction is expected to close in 30 days.

The merger will create one of the largest floor covering buying groups in the country.

Color Tile’s President James Gould made the announcement this week at the opening of the company’s national convention. CarpetsPlus co-CEOs Ron Dunn and Jon Logue outlined the CarpetsPlus program to Color Tile members.

Color Tile employees will be reassigned to one of Gould’s other companies. Gould will assume the position of Misco Shawnee Inc. president. Color Tile Senior Vice President Ron Negley will continue as vice president of operations for Misco Shawnee nd president of Distribution Services Inc.