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Slide #23. The Dixie Group — Atlas Carpet Mills
The Dixie Group (NASDAQ:DXYN)
Atlas Carpet Mills
The Dixie Group, Inc. (NASDAQ:DXYN) today 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.
Dixie Group markets, manufactures and sells finished carpet, rugs and vinyl flooring in the domestic floorcovering market. Co.'s brands include: Fabrica, which markets and manufactures residential carpet and custom rugs; Masland Residential, which markets and manufactures design-driven carpets and rugs for the residential marketplace; Dixie Home, which markets an array of residential tufted broadloom and rugs to selected retailers and home centers under the Dixie Home and private label brands; and Atlas Masland Contract, which markets to the architectural and specified design community and directly to commercial end users, as well as to consumers through floorcovering retailers.
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Buy (3.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
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