Home / Knowledge / News / Apparel/Garments / Dixie to acquire floorcovering maker Atlas Carpet Mills
Dixie to acquire floorcovering maker Atlas Carpet Mills
15
Mar '14
The Dixie Group, Inc. announced its agreement to acquire Atlas Carpet Mills, a high-end manufacturer and marketer of commercial floorcovering products located in Los Angeles, California. As outlined in its agreement, closing of the acquisition is scheduled for Wednesday, March 19. 
 
In commenting on the agreement, Daniel K. Frierson, Dixie’s Chairman and CEO stated, “We are very pleased to announce our agreement to acquire Atlas. Dixie and Atlas have had a long relationship that goes back over 40 years. Jim Horwich, founder of Atlas, will remain with us as President of Atlas reporting to Kennedy Frierson, Dixie’s Chief Operating Officer. Mark Nestler, Executive Vice President and Scott Price, Vice President of Manufacturing will continue in their respective leadership roles at Atlas.
 
Kennedy Frierson added, “Atlas has a very strong sales force and excellent brand equity in the market place, which should maximize our opportunities for growth. This strong market position has been created by the superior design and styling of their product offerings.” Mr. Frierson further commented, “Following our acquisition, the Saybrook tufting, coating, inspection and shipping operations of Atlas will continue normal operations. 
 
In addition, there will be no change to the administrative, product development and sales functions of the company. However, over the next several weeks, Atlas’ dyeing operations will be consolidated into Dixie’s Susan Street facility located in Santa Ana, California. Many of the associates who now work in the Atlas dye facility will transfer to the expanded Santa Ana dyeing operations.”
 
Atlas had sales of approximately $53 million in 2013, having offerings in both broadloom and modular carpet tile. They have demonstrated superior management, with profitable operations every year of the company’s 44 year history. Although Atlas will operate as a separate Brand within the Dixie portfolio, we believe there are significant synergies from the consolidation of the two dye houses and utilization of other Dixie assets. 
 
The acquisition of Atlas will be an all cash transaction and will involve retaining the top three officers under five year contracts. The seller was represented in the transaction by Greenberg Glusker Fields Claman & Machtinger LLP and the buyer by Miller & Martin PLLC.
 

Dixie Group

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X