BOCA RATON, Fla., March 5, 2013 (GLOBE NEWSWIRE) -- Q.E.P. CO., INC. (OTC:QEPC.PK) (the "Company") today announced that on Monday, March 4, 2013, it completed the acquisition of the Homelux® and TileRite® distribution businesses ("Homelux") of Homelux Nenplas Limited. Homelux is a leading, global supplier of tile accessories to the DIY and professional markets with a product portfolio that includes extruded plastic and metal tile trims, flooring profiles, bathtub seals, under-tile heating, crack isolation and waterproofing solutions.
Mr. Lewis Gould, Chairman of the Company's Board of Directors, commented: "We are very pleased with the Homelux acquisition. Homelux is one of the brands that resonates with the global pro. This is part of our continuing strategy to acquire businesses that are profitable and complement our core U.S. business. We believe that the addition of Homelux will create for Q.E.P. a marketing theme where the customer will buy key brand names and a complete selection from Q.E.P. in several categories. The acquisition of Homelux is continuing this strategy.
Q.E.P. Co., Inc., founded in 1979, is a world class, worldwide provider of innovative, quality and value-driven flooring and industrial solutions. As a leading worldwide manufacturer, marketer and distributor QEP delivers a comprehensive line of hardwood flooring, flooring installation tools, adhesives and flooring related products targeted for the professional installer as well as the do-it-yourselfer. In addition the company provides industrial tools with cutting edge technology to all of the industrial trades. Under brand names including QEP®, ROBERTS®, Capitol®, Harris®Wood, Nupla®, HISCO®, Vitrex®, PRCI®, Porta-Nail® and Elastiment®, and now including Homelux® and TileRite®, the Company markets over 5,000 products. The Company sells its products to home improvement retail centers, specialty distribution outlets, municipalities and industrial solution providers in 50 states and throughout the world.
This press release contains forward-looking statements, including statements regarding the expected benefits resulting from the acquisition that involve risks and uncertainties. These statements are not guarantees of future performance and actual results could differ materially from our current expectations.
CONTACT: Q.E.P. Co., Inc. Richard A. Brooke Senior Vice President and Chief Financial Officer 561-994-5550Source:Q.E.P. Co., Inc.