Floor & Decor Acquires Spartan Surfaces
May 13, 2021
Floor & Decor (NYSE: FND) has entered into a definitive agreement to acquire 100% of Spartan Surfaces, a commercial flooring specifying and distribution company headquartered in Bel Air, Maryland, for up to $90 million. The purchase will be funded with cash on hand and $5 million of Floor & Decor common stock; Spartan Surfaces will operate as a subsidiary and remain led by its senior management team. The acquisition is intended to accelerate Floor & Decor's commercial flooring growth by leveraging Spartan's specifying and consultative selling relationships with the architectural and design community.
- Buyers
- Floor & Decor
- Targets
- Spartan Surfaces
- Industry
- Building Products
- Location
- Maryland, United States
- Transaction Type
- Buyout
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