Floor & Decor Subsidiary Acquires Salesmaster Flooring Solutions To Expand Commercial Business In The Northeast
07 Junho 2023 - 5:05PM
Business Wire
Floor & Decor (NYSE: FND) today announced its wholly
owned subsidiary Spartan Surfaces had acquired Salesmaster Flooring
Solutions, a leading flooring and installation supplies distributor
servicing the Northeastern part of the United States. Headquartered
in Deer Park, New York, the company has approximately 80 employees
and will operate as a part of Spartan Surfaces.
“I’ve admired Salesmaster’s business for years,” notes Kevin
Jablon, CEO of Spartan Surfaces. “Their unmatched flooring
contractor relationships, coupled with their know-how of navigating
the New York metro area and winning culture, has always stood out
in the industry. Combining the companies is an exciting milestone
in Spartan’s business and significantly expands our presence in the
large and highly fragmented New York City and New England
markets.”
“This merger represents a significant step forward for our
organization and all our dedicated employees. Working together will
allow us to harness substantial synergies between our companies.
Leveraging increased purchasing power, inventory levels, logistics,
and customer service will ultimately enhance the value we deliver
to our customers,” notes Salesmaster President, Steve Kurtz.
The transaction closed June 7 and is not expected to have a
material impact on Floor & Decor’s fiscal 2023 second quarter
or full year 2023 financial results. Terms of the transaction were
not disclosed.
About Spartan Surfaces
Spartan Surfaces, a subsidiary of Floor & Decor, is a
specialty flooring distribution company headquartered in Bel Air,
MD, with showrooms in the District of Columbia, Chicago, and
Minneapolis. To learn more visit, www.spartansurfaces.com.
About Salesmaster Flooring
Solutions
Founded in 1961, Salesmaster Flooring Solutions has grown into
one of the United States’ leading flooring and installation
supplies distribution companies. Through its Architect and Design
Division, Salesmaster acts as a liaison between the architectural
and design community, the flooring contractor, and the end user.
The company assists all parties in making the proper specification
for every application. For more information, visit
www.salesmasterflooring.com.
About Floor & Decor
Founded in 2000, Atlanta based Floor & Decor is a leading,
high-growth specialty retailer of hard-surface flooring, operating
194 warehouse stores and five design studios across 36 states as of
March 30, 2023. The stores offer the industry’s broadest in-stock
assortment of tile, wood, laminate, vinyl, and natural stone
flooring along with decorative and installation accessories and
adjacent categories. The stores also offer free design services and
a dedicated pro sales team. Products are directly sourced from
manufacturers around the globe, which enables it to bring the
world’s best and most innovative flooring trends to its customers,
at everyday low prices. Floor & Decor has locations nationwide,
but each store is bolstered by a local focus that creates a unique
store experience and mix of products that meet the needs of each
market served. For more information, visit
www.flooranddecor.com.
Forward-Looking
Statements
This press release contains statements that are not historical
facts but rather forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are usually identified by or are
associated with such words as “intend,” “plan,” “believe,”
“estimate,” “expect,” “anticipate” and/or the negatives or
variations of these terms or similar terminology. Such
forward-looking statements include those that address activities,
events or developments that Floor & Decor Holdings, Inc. (the
“Company”) or its management believes or anticipates may occur in
the future, including the closing of the transaction and the
benefits expected therefrom, including revenue growth, earnings
enhancements and synergies from the transaction. All
forward-looking statements are based upon the Company’s current
expectations, various assumptions, and data available from third
parties. The Company’s expectations and assumptions are expressed
in good faith, and the Company believes there is a reasonable basis
for them. However, there can be no assurance that such
forward-looking statements will materialize or prove to be correct
as forward-looking statements are inherently subject to known and
unknown risks, uncertainties and other factors, which may cause
actual future results, performance or achievements to differ
materially from the future results, performance or achievements
expressed in or implied by such forward-looking statements.
Numerous risks, uncertainties and other factors may cause actual
results to differ materially from those set out in the
forward-looking statements, including: the possibility that the
transaction will not close or that the closing may be delayed; the
possibility that we may be unable to obtain regulatory approval for
the transaction; the potential for litigation or governmental
investigations relating to the transaction; the occurrence of
events, changes or circumstances that could give rise to the
termination of the definitive agreement; the risk that we may be
unable to successfully integrate the acquired business; the risk
that we may not realize the benefits expected from the transaction;
potential adverse reactions or changes to business or employee
relationships, including those resulting from the announcement of
the transaction; the risk that the funds required to complete the
transaction become unavailable; the possibility that completing the
transaction may distract the Company’s management from other
important matters; and the other factors discussed in Item 1A,
“Risk Factors” in the Company’s Annual Report on Form 10-K for the
fiscal year ended December 29, 2022, and in the Company’s other
filings with the Securities and Exchange Commission, which are
available at http://sec.gov. The Company undertakes no obligation
to update publicly or revise any forward-looking statements in
light of new information or future events. For any forward-looking
statements contained in this or any other document, the Company
claims the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995, and the Company assumes no obligation to update any
such statement.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230607005721/en/
Investor Contacts:
Wayne Hood Vice President of Investor Relations 678-505-4415
wayne.hood@flooranddecor.com
or
Matt McConnell Senior Manager of Investor Relations 770-257-1374
matthew.mcconnell@flooranddecor.com
Floor and Decor (NYSE:FND)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Floor and Decor (NYSE:FND)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024