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| Home Depot acquires builder-focused design center business on West Coast |
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2004/1/14
Atlanta - January 6 - Home Depot has expanded its reach into the new home construction market by acquiring Creative Touch Interiors (CTI), a turnkey design center service for homebuilders in Southern California and Las Vegas. Terms of the deal were not disclosed.
CTI has become part of Home Depot Supply's "Builder Solutions Group," which operates design centers that help builders's homeowner clients choose flooring, countertops and window treatments for their homes. The group targets the $25 billion market for finished products and services in new home construction, Home Depot said.
The home channel giant created its Builder Solutions Group in 2002 when it acquired three residential construction flooring companies: Arvada Hardwood Floor Co. of Denver; Floors Inc. of Baltimore; and Floorworks of Phoenix. The move made Home Depot the largest supplier and installer of flooring in the residential construction market
"The acquisition of CTI extends the Builder Solutions Group's reach from coast to coast by adding the Las Vegas and Southern California markets," Jim Stoddart, division president of Home Depot Supply, said in a statement.
With the CTI acquisition, Home Depot Supply's Builder Solutions Group operates locations in 13 states, including metro areas in Baltimore, Philadelphia, Cincinnati, Columbus, Cleveland, Louisville, Indianapolis, Ft. Myers, northern Virginia, central New Jersey, Denver and Phoenix.
CTI's president Jeffery Sears, whose background includes more than 22 years in the flooring industry, will remain in his leadership role at CTI.
Source:homechannelnews.com |
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