Carpet Co-Op acquires Flooring America, GCO and Carpet Max Canada franchises
Carpet Co-Op of America has acquired the franchise systems of Flooring America, GCO and Carpet Max Canada for a purchase price of $13.25 million.
The purchase is projected to expand the corporation's annual sales volume to $4.5 billion and bring some 250 Flooring America and 100 GCO stores in the United States and 100 Carpet Max Canada locations under the Carpet Co-Op of America umbrella. All of the franchises were part of the estate of bankrupt Flooring America Inc. Under the new organizational structure, most of the existing management within the Flooring America and GCO organizations will remain on board, according to Alan Greenberg, co-CEO of Carpet Co-Op of America.