Live Ventures Incorporated, a diversified holding company, announced that its subsidiary Marquis Industries purchased the Harris Flooring Group brands from Q.E.P. Co. Inc. for approximately $10 million.
The flooring brands include Harris, Kraus, Naturally Aged Flooring and Heritage Mill Wood Flooring. The acquisition took place Sept. 20.
“This acquisition not only brings us four major brands but also approximately doubles our current salesforce,” Marquis Industries Co-CEO Chet Graham said in a statement. “We welcome all new employees to the Marquis Industries family.”
Leonard Gould, president and CEO, the Americas, of Q.E.P., said the company was pleased with the transition.
“With this transaction, we believe that Marquis Industries will continue to uphold and elevate our legacy of high-quality flooring brands, serving as steadfast stewards of our commitment to our brands, products and customers,” Gould stated.
The Harris wood flooring brand, based in Johnson City, Tenn., dates back over 125 years. Q.E.P. purchased the Harris Wood brand in 2010 and formed the Harris Flooring Group division in 2020. Marquis Industries, based in Chatsworth, Ga., opened in 1997, growing to become a national carpet manufacturer and hard surface flooring supplier.