March 2012: Mannington acquires Amtico

Home Inside FCNews March 2012: Mannington acquires Amtico

Volume 26/Number 16; Dec. 17/24, 2012

To bolster its luxury vinyl tile (LVT) business as well as expand its global reach, Mannington Mills has acquired Amtico International for an undisclosed amount.

Based in Coventry, England, the 47-year-old Amtico operates facilities on both sides of the pond and has annual worldwide sales estimated at $180 million with approximately $75 million of that coming from the U.S.

Russell Grizzle, Mannington’s president and CEO, said Amtico has long been recognized as the design, innovation and performance leader in the luxury vinyl category and “its commitment to quality, customer service, sustainability and delivering exceptional value to the market fits seamlessly with Mannington’s core values.”

Amtico, the company and name, will remain intact as a Mannington subsidiary, Grizzle added.

With annual resilient sales estimated at over $300 million, Mannington is already considered an industry leader in the category. Still, Grizzle said the acquisition is an “exciting development” for the company because it “expands Mannington’s global market reach as well as the scope of our domestic manufacturing capabilities.”

He told FCNews the purchase also marks a first for the 97-year-old Mannington: Owning manufacturing property outside the U.S.

While Amtico’s global presence is an attractive part of the acquisition for Mannington, even more important is “it allows us to produce LVT domestically,” Grizzle explained.

In the U.S. Amtico has two facilities, both in Georgia. Mannington’s commercial carpet operation is also located in Georgia.

Grizzle said the purchase is a “vote of confidence” in terms of how Mannington feels business will be going forward. And, “this move demonstrates Mannington’s commitment to the LVT category—which continues to be the fastest-growing segment in the industry. The acquisition also solidifies the company’s leadership position in the category, making Mannington the largest LVT manufacturer in the world.”

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