Floor & Decor acquired by private equity firms

Floor and Decor Outlets of America, a chain of floor covering retail outlets, has signed an agreement to be purchased by an affiliate of Ares Management and Freeman Spogli & Co. from an investor group that includes Najeti Ventures, Saugatuck Capital Co. and TWJ Capital.

Headquartered in Atlanta, Floor and Decor currently sells ceramic, stone, wood and laminate flooring through 25 stores in 15 U.S. metro markets, as well as through its website, flooranddecoroutlets. Its brick-and-mortar locations typically range from 60,000 sq. ft. to 80,000 sq. ft. and are set in warehouse-style buildings with merchandise stacked on pallets. Customers are primarily homeowners and professional contractors.

Based in Los Angeles, Ares Management is also an investor in Orchard Supply Hardware, a chain of home improvement stores throughout California.