Q.E.P. Co., Inc. has purchased hardwood flooring maker ArborCraft LLC, which sells its products under the Harris and Tarkett Wood brands. The company, formerly called Harris-Tarkett, was founded in 1898 as the Harris Manufacturing Co.
“This acquisition is a natural add-on to our existing business. It is a key component of our strategy to move towards a full line supplier to the flooring industry,” said Jamie Clingan, Q.E.P.’s sr. vp sales and marketing.
ArborCraft employs close to 190 people in three facilities on about 67 acres in Johnson City, Tenn., and Montpelier, Ind. The facilities include more than 500,000 sq. ft. of manufacturing and drying space and a 192,000 sq. ft. lumberyard.
The acquisition included approximately $6.2 million in cash, and the issuance of a subordinated term note of approximately $3.8 million.
Q.E.P. buys ArborCraft for close to $10 mil
March 17, 2010