Lancaster, Pa.—Armstrong Flooring has closed on the previously announced definitive asset purchase agreement to acquire the Vinyl Composition Tile (VCT) business of Mannington Mills.
“We are pleased to close on this strategic acquisition and strengthen our footprint in the well-structured VCT category,” said Don Maier, chief executive officer. “This acquisition remains on track to drive accretive benefits to earnings in 2018 and marks an exciting step in our multi-pronged approach to achieve our medium-term goals. We look forward to providing customers with an expanded inventory selection backed by our expertise in VCT, as well as exceptional service from our strong distribution network.”
Armstrong Flooring intends to use its existing plant and distribution networks to accommodate the additional VCT volume from the acquisition in order to drive top and bottom line benefits through increased scale and capacity utilization.