Salem, N.J.—Mannington Mills has signed an agreement to acquire Phenix Flooring and Pharr Fibers and Yarns from Pharr USA. This acquisition is Mannington’s first foray into the residential carpet business.
“This acquisition is very exciting for Mannington and for our customers,” said Russell Grizzle, president and CEO, Mannington. “Residential carpet remains the largest category, and the time is right for Mannington to include it as part of our residential portfolio. We also look forward to providing high-quality carpet yarn to customers worldwide.”
According to Grizzle, the synergies between Mannington and Pharr make this acquisition a logical move. “Like Mannington, Phenix focuses on driving unique value to the customer, is a leader in style and design, offers world-class customer service, and is committed to domestic manufacturing. In addition, it is a family owned business and the corporate cultures are very similar.”
Bill Carstarphen, president and CEO, Pharr, explained that this transaction reflects the company’s next step in evolution to deliver benefits to customers, associates and communities. “Throughout its 80-year history, Pharr’s spirt of innovation and willingness to adapt to change have allowed the company to evolve and succeed,” he added. “We know each of these groups will benefit tremendously from being a part of the Mannington organization and expect these transactions will result in a broad range of future opportunities and growth for our associates.”
Keith Campbell, chairman of the board, Mannington, stated that this is an exciting time for Mannington. “The acquisition makes sense in every way. Both Phenix and Mannington have a focus on the customer, multi-generational family ownership, a group of talented, dedicated associates and a commitment to a set of core values that drives everything we do.”
Phenix Flooring and Pharr Fibers and Yarns is headquartered in McAdenville, N.C., with operations also in Dalton. The two divisions employ approximately 900 people. No terms of the acquisition were disclosed.