CA International, a building materials company and the primary supplier of Pinnacle Interior Elements' hardwood flooring products, has bought Pinnacle. Michael Kearins, Pinnacle’s founder and president announced the stock sale of the company was completed on June 6, after close consultation between the two firms on "how to most effectively leverage their core marketing, sales and manufacturing capabilities ... to deliver the greatest value in a rapidly changing industry landscape."
"We are very excited about all the positive benefits this transaction will bring to our customers and employees," Kearins said. "As the international hardwood flooring industry has continued to vertically integrate and consolidate, this merger is a logical development for both companies. I am confident that the new Pinnacle will be able to significantly expand its offering of fresh designer flooring patterns as well as enhance and expand its selection of distressed, hand scraped flooring along with its traditional and entry level products."
"This acquisition underscores CA International’s commitment to the U.S. wood flooring market and to building Pinnacle into a stronger and trusted partner for our distributors and their dealers and flooring contractors," added Xiao Yan Zhu, CA International's president. "Expanding our position as a valued supplier to the North American floorcovering and building material industries is key to our long term growth plan."
She also noted "the seasoned Pinnacle Management team is a vital asset that is now armed with the additional resources needed to facilitate an expanded product line and support programs to be marketed under the Pinnacle brand through the company’s extensive distributor and dealer channel."
Based in Berkeley, Calif., CA International LLC was founded in 2002 for the purpose of developing and building cross-cultural business relationships between the U.S. and China. CA designs and produces interior building products including flooring, doors, molding and specialty cabinetry. The company markets its products in China, Japan, the United States, Canada and Mexico under a range of brands including Shenlin and Harborview. The company is also an OEM to a number of U.S. manufacturers.
For more information visitwww.pinnacle.org, orwww.harborviewproducts.com.
'A logical development': CA International buys Pinnacle
June 26, 2009