Shaw Industries Group said it has signed
a definitive agreement to buy hardwood flooring maker Anderson and its family
of companies. Based in Clinton, S.C., the 61-year-old Anderson is a fully
integrated manufacturer with hardwood brands including Anderson, Virginia
Vintage, Appalachian, Biltmore Estate and Anderson Pacific.
Shaw Industries Group said it has signed
a definitive agreement to buy hardwood flooring maker Anderson and its family
of companies. Based in Clinton, S.C., the 61-year-old Anderson is a fully
integrated manufacturer with hardwood brands including Anderson, Virginia
Vintage, Appalachian, Biltmore Estate and Anderson Pacific.
Shaw Industries CEO Vance Bell said Anderson’s core values fit well with
Shaw’s. “We are very excited about Anderson joining Shaw Industries. Anderson
has a longstanding reputation for product innovation, styling and premier
quality,” he said. “Anderson and Shaw are fully committed to the Anderson brand
and its growth through their existing channels and customers.”
Plans call for Don Finkell, president and CEO of Anderson, as well as the
full Anderson management team to stay on with Shaw. Additionally, Shaw will
“welcome all Anderson associates to the Shaw team,” Bell added.
Anderson’s Finkell said the move
will accentuate the strengths of both companies. “Joining Shaw Industries will
allow Anderson to keep being Anderson but with even greater resources,” he
enthused. “The combined strengths of these two companies will allow us to
continue exceeding our customers’ expectations for outstanding products and
services for many years to come.”
Terms of the deal were not
disclosed.