DALTON, Ga. -- Shaw Industries Group, Inc. announced today that it has entered into a definitive agreement to purchase USFloors, which expands and complements Shaw's position as a leader in the luxury vinyl tile (LVT) and hard surface markets. USFloors is a leading innovator and marketer of wood-plastic composite (WPC) flooring in the LVT category, as well as cork, bamboo and hardwood products. The transaction is expected to close in the fourth quarter, after customary closing conditions and regulatory approvals.
"We are excited to welcome Piet Dossche and the USFloors team to Shaw Industries," stated Vance Bell, Chairman and CEO. "Our companies share similar values and focus on innovation, style and design and sustainability leadership. Combining USFloors, the fastest growing company in the fastest growing segment of the flooring business, with Shaw's LVT position creates a significant opportunity for the combined companies."
"We are proud and enthusiastic to become part of Shaw Industries and join this team of high quality and dedicated people," commented Piet Dossche, CEO. "Backed by Shaw's superior service and operational excellence we will be able to expand our leadership position in the WPC segment even faster and solidify our COREtec brand as the global benchmark for this new flooring category."
About USFloors
Founded in 2001 by Piet Dossche, USFloors markets its products under the COREtec, Natural Cork, Natural Bamboo, Navarre and Castle Combe Floor and Wall brands. The company's manufacturing and corporate facilities are based in Dalton, Georgia, and its distribution facilities are in Dalton; Augusta; and Anaheim, California. In addition, USFloors has an extensive QC and Logistic presence in Shanghai China and an international sales and marketing office in Belgium, Europe.
About Shaw Industries
Shaw Industries Group, Inc. offers a diverse portfolio of carpet, hardwood, laminate, resilient, tile and stone flooring products, synthetic turf and other specialty items for residential and commercial markets worldwide via its brands Anderson, Patcraft, Philadelphia Commercial, Shaw Contract, Shaw Floors, Shaw Hospitality, Shaw Sports Turf, Southwest Greens, Tuftex and more.
Headquartered in Dalton, Shaw is a wholly owned subsidiary of Berkshire Hathaway, Inc. The company employs more than 20,000 associates with offices; R&D, manufacturing, warehousing and distribution locations; product showrooms; and/or salespeople throughout the U.S., as well as Australia, Brazil, Canada, Chile, China, India, Mexico, Singapore, United Arab Emirates, and the United Kingdom.