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Lexmark's acquisition of Tarkett will strengthen its offering.

TARKETT TO BUY LEXMARK

PARIS—This global flooring and sports surfaces provider plans to strengthen its offering with a strategic deal to buy another. Tarkett has signed an agreement to acquire 100% of Lexmark Carpet Mills.

Lexmark produces carpet, primarily for the North American hospitality segment, has extended its product range to address the residential market in recent years.

Headquartered in Dalton, GA, Lexmark achieved around $120 million in sales in 2017, employs 460 people and operates one plant in the U.S. Lexmark has demonstrated a strong and profitable growth model, particularly through the acquisition of Northwest Carpets in 2015, a manufacturer of broadloom carpet for hospitality and niche commercial applications.

“The acquisition of Lexmark will position Tarkett as one of the leaders in the hospitality segment for carpets in North America. We will be able to further strengthen Lexmark’s offering in this segment as they will have access to Tarkett’s broader product portfolio,” said Glen Morrison, CEO of Tarkett. “We will also leverage Tarkett’s global presence to enhance Lexmark’s positioning with key accounts worldwide.”

“We are very excited to join Tarkett with whom we share the same vision and entrepreneurial values, as well as a strong commitment to servicing customers with solutions designed to meet a wide range of needs. Within the Tarkett group, we will be able to offer a larger choice of products to our customers and partners and provide an even stronger offering,” said Paul Cleary, CEO of Lexmark.

The transaction is expected to be concluded before the end of this year.