The Belknap White Group (Mansfield, Mass.) announced it has purchased a controlling interest in JJ Haines (Glen Burnie, Md.).
Haines will continue to function as a separate entity, and Haines CEO and President Hoy Lanning will report to the Haines board of directors, which will oversee and set direction for the distribution company.
“As flooring distributors begin to consolidate, it is critical that distributors achieve a certain level of critical mass,” Lanning said in a statement. “This investment from Belknap is a win/win for both companies as we strive to build a larger and more stable distribution platform.”
Belknap White and Haines first entered into a strategic partnership in 2017, with Belknap White’s initial investment leading to a collaboration in sales, IT and logistics for both companies.
“This trend of strategic alignment is one that most flooring companies, including Haines and Belknap White, have pursued over the last several years,” stated Haines Board of Directors Chairman Raymond Mancini Jr.
The new arrangement was finalized Feb. 14.
