By Lorraine Mirabella, The Baltimore Sun
10:57 AM EST, January 3, 2013
Haines, a national floor covering distributor based in Glen Burnie, said Thursday it has acquired Allied Products of Baltimore, a 72-year-old flooring supplies distributor.
The 138-year-old, privately held Haines, which calls itself the nation's largest flooring distributor for commercial and residential properties, did not disclose financial terms of the deal. The sale was finalized on Tuesday.
Allied has 40 employees and annual sales of more than $10 million. Haines plans to hire all Allied workers and keep Allied's 11 locations in Maryland, Pennsylvania, Virginia and North Carolina open. Allied also operates in Washington D.C., Delaware and parts of New Jersey and West Virginia.
"Together we are a great combination of complementary businesses that make money and can improve together," Bruce Zwicker, Haines CEO and president, said in a statement. "Haines is now resuming its growth strategy," including expanding the supplies and floor covering businesses in the mid-Atlantic and Southeast.
Allied's managers will continue to run Allied as a separate business and become part of Haines' management team, the company said. Haines employs 444 people, runs 18 distribution sites and makes deliveries to customers in 11 states plus the District of Columbia.
Copyright © 2014, The Baltimore Sun