Tandus Acquired By Tarkett Group
Tandus, with roots going back to 1803, when the company began to import woven carpet to North America, in 1969 became the first carpet manufacturer in North America to produce modular carpet. In 1994, it became the first company in the industry to provide a closed-loop recycling program. In addition to being recognized for its technologically innovative product lines and its environmental and sustainability initiatives, it 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 and continues its current 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 KKR. The acquisition of Tandus enables Tarkett's expansion into North American and Asia Pacific commercial carpet markets.
"Together, Tarkett and Tandus will reach $1 billion of total sales in North America," said Jeff Buttitta, president, Tarkett 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."
October 9, 2012