Tandus Acquired By Tarkett Group
Tandus's roots go back to 1803. In 1969, it became the first carpet maker in North America to produce modular carpet. In 1994, it became the first company in the industry to provide a closed-loop recycling program. It also has earned numerous design awards. With annual revenues totaling $340 million, the company currently has some 1,400 employees, five manufacturing sites in the United States and Canada and one in China; and serves commercial markets in North America and Asia.
Tandus is now a stand-alone entity within Tarkett's North American division, with its own manufacturing and business operations as well as distribution channels. Tandus President Glen Hussmann remains in charge of the business and foresees expansion opportunities for the carpet manufacturer.
"Tarkett is a true global company with sizeable exposure in high growth developing countries," Hussmann said. "This can provide Tandus a solid base for international expansion."
Tarkett reported 2011 revenues totaling 2.1 billion euros and approximately 9,200 workers in 100 countries, including in 32 manufacturing sites. The company is co-owned by the Deconinck family and private equity funds affiliated with Kohlberg Kravis Roberts & Co. LP. The acquisition of Tandus enables Tarkett's expansion into North American and Asia Pacific commercial carpet markets.