Nov 30 2010
Floor and Decor Outlets of America, Inc., a leading specialty retailer of hard surface flooring and accessories, announced today that it has been acquired by affiliates of Ares Management LLC and Freeman Spogli & Co. from an investor group that includes Najeti Ventures LLC, Saugatuck Capital Company, and TWJ Capital LLC.
Founded in 2000, Floor and Decor is a category killer in the hard surface flooring market, offering the broadest selection of ceramic, stone, wood and laminate flooring available to both individual consumers as well as contractors. In addition, Floor and Decor also sells a full array of tools and related accessories necessary to complete any hard flooring project. Headquartered in Atlanta, Floor and Decor currently operates 25 stores in 15 U.S. metropolitan markets as well as its online store at www.flooranddecoroutlets.com.
Floor and Decor offers the best possible price on everything needed to complete a hard surface flooring project under one roof, a compelling value proposition to both do-it-yourself and contractor customers. As a result of this acquisition, Floor and Decor expects to accelerate its growth plans by expanding the number of stores and markets in which it will operate.
“We are delighted to partner with Ares and Freeman Spogli, whose capital base, network of relationships, and expertise in the retail and consumer industries will be an invaluable resource as we embark on a significant expansion of our geographic footprint,” said Vincent West, Chief Executive Officer of Floor and Decor.
“Floor and Decor provides consumers with the lowest prices for high-quality flooring materials and accessories, the broadest selection of hard surface flooring—with approximately five times the selection of a typical home improvement retailer, and the largest in-stock quantities of project-ready products anywhere,” said David Kaplan, Senior Partner at Ares Management. “We are excited to work with Freeman Spogli to support the company’s expansion across the country so that all customers can take advantage of its unparalleled offering.”
“Floor and Decor enables homeowners to remodel at a substantial savings relative to other retail outlets,” said John Roth, General Partner at Freeman Spogli. “In light of the current economic environment, we are convinced that consumers are particularly attracted to both competitive pricing as well as the shopping efficiency of having everything needed for a flooring project in one place.”
Source: http://www.flooranddecoroutlets.com