"We are committed to expanding our flooring business and the wood category provided an attractive opportunity given its high growth rates," said Roger S. Marcus, American Biltrite chairman and CEO. "Janus offers an excellent, high-quality product line that we believe has significantly greater future sales potential. We are also fortunate to be acquiring the management team headed by Gerry Hebert, who will continue to run the operation for us."
American Biltrite buys Janus Flooring
American Biltrite Inc. has acquired all outstanding shares of Janus Flooring as part of a cash purchase valued at $4.5 million (Canadian). Janus, a Toronto-based producer of prefinished solid hardwood flooring, had 1999 sales of $11.8 million (Canadian) and net income of $163,000 (Canadian).
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