Tarkett announces the acquisition of the minority shares of EasyTurf
Tarkett Sports announces the acquisition of the 49% minority shares of EasyTurf Inc. EasyTurf, based in Southern California, is a leader in the sales and installation of artificial turf for residential and commercial applications. Tarkett acquired its initial stake in EasyTurf in May 2010 to expand its presence in the rapidly growing landscape turf segment. As a result of this transaction, EasyTurf becomes a wholly owned subsidiary of Tarkett. It does not lead to any change in the consolidated income statement, as EasyTurf is already fully consolidated.
Many of EasyTurf’s products are Cradle to Cradle Certified™ Basic and help the environment by saving millions of gallons of fresh water annually.
Commenting on the transaction, Eric Daliere, President of Takett Sports, stated:
“Since joining the Tarkett Sports family in 2010, EasyTurf has grown significantly. We look to continue to expand our activities in the landscape artificial turf segment. Given the increasingly natural appearance of our products and growing concerns about water availability, these are exciting times for EasyTurf.”