Tarkett Enterprises acquires Tandus
Tarkett announces the acquisition of Tandus Flooring, a US-based floorcovering designer and manufacturer who for more than 50 years has been creating floorcoverings that enhance spaces for learning, working, healing and living.
The move allows Tarkett to expand into the commercial carpet business in North America and Asia Pacific, and enhances each company’s ability to provide their customers a broader range of world class products and services. The transaction will close on September 28th, 2012.
“This acquisition is aligned with our mission to enhance our customers’ return on investment and quality of life, now offering complementary solutions in both hard and soft surfaces” said Michel Giannuzzi, Tarkett Group CEO. “Thanks to this strategic move, we will reinforce our position as a global leading flooring provider, extending our activities in the commercial carpet market in North America while further developing our footprint in the fast growing Asian markets. Leveraging the combined strength of Tandus and Tarkett, we will continue to grow faster than the market.”
With annual turnover of $340M and 1400 employees, Tandus Flooring serves architects, designers, end-users and service providers in the specified commercial markets in North America and Asia. Tandus has five production sites in the USA and Canada and one site in China to serve the Asian markets. Tandus produces a unique product line that includes hybrid resilient, modular carpet, and higher-end broadloom and woven products. The group has earned a reputation for being an innovator and has changed the landscape in the flooring industry through product advances such as Powerbond – the industry’s first hybrid resilient sheet. Tandus is equally viewed as a design leader, winning 8 Best of Neocon Awards over the past five years including a 2012 Gold for its Needle Tech broadloom collection. It has also been a pioneer in environmental and sustainability practices, having launched the industry’s first closed-loop recycling program.
Tandus has shown strong and profitable performance, continuously increasing its market share during the past five years. They will continue to operate as a separate entity within Tarkett’s North American division, maintaining current manufacturing, business operations and routes to market. President, Glen Hussmann will continue to manage the business.
“We’re pleased and excited to be part of the Tarkett family,” said Hussmann. “Tarkett is a true global company with sizeable exposure in high growth developing countries. This can provide Tandus a solid base for international expansion. We and Tarkett share an aligned vision of the future and have common views on innovation and how to serve the customer. We believe this will create benefits for all of our customers.”
Jeff Buttitta, President of Tarkett North America says the growth opportunities this acquisition creates are significant. “End users and specifiers are searching for strong partners who understand the extraordinary demands placed on projects and who have the capabilities to deliver full solutions that incorporate a wide array of products and services. Together, Tarkett and Tandus will reach $1 billion of total sales in North America. We will now offer a broad commercial portfolio of soft and hard surfaces, have a deep and experienced field organization and hold strong positions in the education, corporate and healthcare segments. In the future, we will leverage our combined resources for accelerated product innovation, integrated design activities and joint sustainability initiatives that will provide our customers with greater choice in products and services with worldwide capabilities.”