Portugal-based Amorim Revestimentos, which makes Wicanders cork oak flooring among other products, has acquired a 25 percent stake in Dalton, Ga.-based USFloors. USFloors offers a range of sustainable flooring, including the Natural Cork and Natural Bamboo lines.
"We are very excited to have Amorim Revestimentos as a partner in our company," said Piet Dossche, CEO of USFloors. "As the largest producer of cork products in the world, with dominant position in the main European and global markets, and the major supplier of raw material and finished product to the cork flooring industry, we cannot wish for a stronger partner."
With its investment, Amorim becomes a partner with one of the leading cork distribution and manufacturing companies in the United States market. Additionally, Amorim "has the opportunity to grow market share and expand the overalls sales of its cork and cork-related products in the U.S.," according to USFloors.
For USFloors, the move means "securing a partner who can give us a guaranteed supply of cork raw material as well as finished products, help with the technological know-how in our brand new plant in Dalton, and strengthen our position in the U.S. market by making us a fully vertically integrated cork manufacturer," Dossche said.
Other terms of the deal were not disclosed.
Cork products maker Amorim acquires 25 percent stake in USFloors
January 7, 2009