Carpet Co-Op of America Goes On Franchise Buying Spree

Manchester, N.H. & St. Louis (Business Wire) -- Carpet Co-Op of America has acquired the franchise systems of Flooring America, GCO, and Carpet Max Canada. Purchase price was $13.25 million.

The purchase will expand the corporation's annual sales volume to $4.5 billion and bring some 250 Flooring America and 100 GCO stores in the U.S. and 100 Carpet Max Canada locations into the Carpet Co-Op of America family. All franchises were part of the estate of bankrupt Flooring America, Inc.

The purchase of the Flooring America and GCO franchises is part of Carpet Co-Op of America's aggressive strategy for continued growth. Early last month, Carpet Co-Op of America acquired a majority interest in FloorExpo, Inc., which serves the fast-growing residential builder's market.