Tarkett completes the acquisition of Lexmark, reinforcing its presence in the North America hospitality segment
PARIS, FRANCE, October 1st, 2018 – Tarkett, a global leader in flooring and sports surface
solutions, announced today it has completed the acquisition of Lexmark Carpet Mills. Paul
Cleary, CEO of Lexmark, will join Tarkett as President of the Hospitality business for North
Lexmark produces high-quality carpet, primarily for the North American
hospitality market, and
is well-recognized among leading hospitality chains for its state-of-the-art
services. The company achieved approximately $120m of sales in 2017, employs 460
and operates one plant in the U.S.
The addition of Lexmark to the North America division enables Tarkett to
establish a robust
hospitality business that leverages both companies’ broad product portfolios,
positioning the company to better serve the complete needs of its hospitality
Tarkett has also identified sales and supply chain synergies, which will enable
performance and contribute to a seamless integration.
“With the acquisition of Lexmark, Tarkett has reinforced its position in carpet
for hospitality in
North America and is now one of the three leaders in this segment,” said Fabrice
acting Chairman of Tarkett’s Management Board. “Additionally, this move enables
us to provide
a global flooring offering to key international accounts and strengthens our
expertise in this
segment. We are very pleased to welcome Paul Cleary and his team to the Tarkett
The acquisition will be immediately accretive to Group EBITDA margin up to
synergies on a full year basis. The transaction will be financed with an
existing credit facility.
On a pro-forma basis, Tarkett expects its leverage ratio to remain below 2.5x
at the end of the year.
With net sales of more than €2.8 billion in 2017, Tarkett is a worldwide leader
of innovative flooring and sports
surface solutions. Offering a wide range of products including vinyl, linoleum,
carpet, rubber, wood, laminate,
synthetic turf and athletic tracks, the Group serves customers in more than 100
countries worldwide through its
major brands: Tarkett, Desso, Johnsonite, Tandus Centiva, Tarkett Sports,
FieldTurf and Beynon. With
approximately 13,000 employees and 34 industrial sites, Tarkett sells 1.3
million square meters of flooring every
day, for hospitals, schools, housing, hotels, offices, stores and sports fields.
Committed to “Doing Good. Together”,
the Group has implemented an eco-innovation strategy based on Cradle to Cradle®
principles and promotes
circular economy, with the ultimate goal of contributing to people’s health and
wellbeing, and preserving the natural
capital. Tarkett is listed on Euronext Paris (compartment A, ISIN: FR0004188670,
ticker TKTT) and is included in
the following indices: SBF 120, CAC Mid 60. www.tarkett.com.
NOTE:Whitaker Floor Coverings Inc does not carry every style of product. Check with us first about a particular product or to see if your product choice is available for special order.
Tarkett Resilient Flooring
Welcome to everyday. That wonderful series of day-to-day moments strung together where real life happens. And they can sometimes be kind of messy. Like crafty-pasty-paper mache day. And dining-room-hockey-practice day. And let’s-make-a-tent-in-the-living-room day. It’s for those very real reasons that we created Tarkett® Vinyl Sheet Flooring that wears not tears. That cleans up easily. That stands up to everyday life and looks good doing it. Real floors for real life.
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