Tarkett has signed an agreement with the Brussels-based Etex Group to purchase Fademac, a leading resilient flooring maker and distribution partner in Brazil with annual sales of approximately $35 million. The move is aimed at growing Tarkett's commercial and residential presence in South America. Terms of the deal were not disclosed.

“The acquisition of Fademac, Brazil’s leading resilient provider, strengthens Tarkett’s growth strategy in this region with a local manufacturing presence and distribution to South America,” said Michel Giannuzzi, Tarkett's CEO. The acquisition includes an industrial base near Sao Paulo and a distribution network across Brazil. Fademac produces more than 4 million square meters of resilient flooring a year, and employs a staff of 219 in Brazil.

Philippe Coens, Etex's CEO, noted the company was moving away from floor coverings and was "happy that Fademac, which we developed to become the market leader in Brazil, can now join a group with a global leading position in this market."

"We would like to thank Fademac’s management and employees for their valuable contribution and wish them a very bright future in this new environment," he added.