Armstrong Flooring completes $36M acquisition of vinyl-tile business
Armstrong Flooring Inc. has closed on a $36 million deal to buy the vinyl composition tile business from privately held Mannington Mills, an acquisition announced in May.
The Manor Township-based company said it will use its existing VCT manufacturing plant and distribution networks to make and sell the VCT product line. VCT is a hard-surface flooring product widely used in commercial projects, most notably in educational facilities.
New Jersey-based Mannington produces residential and commercial sheet vinyl, luxury vinyl, laminate and hardwood, as well as commercial carpet and rubber at locations in the U.S., Canada and Europe.
The deal only involved the company's VCT business and will not involve any employee transfers to Armstrong Flooring.
Armstrong Flooring CEO Don Maier said he expects the acquisition will have positive impacts on 2018 revenue. The company reported a net loss of $7.8 million in its first quarter.
The Lancaster County manufacturer operates 17 facilities in three countries and employs about 3,900 people.