Floor & Decor Holdings acquires Salesmaster Associates, Inc.

Floor & Decor Holdings acquired Salesmaster Associates, Inc. for $20.1 million total estimated consideration — $17.4 million cash plus contingent consideration with an estimated fair value of $2.8 million, a transaction completed in June 2023, structured as cash plus contingent consideration.

Salesmaster Associates, Inc. operates in Commercial hard-surface flooring distribution, is based in New York City and certain New England markets, United States, had revenue of about Net sales and net earnings attributable to Salesmaster since the completion of the acquisition were immaterial to fiscal 2023.. Salesmaster Associates, Inc. is a seller of commercial surfaces that primarily serves end users and flooring contractors in New York City and certain New England markets. Floor & Decor acquired Salesmaster on June 7, 2023 as part of its continued expansion into commercial surfaces; Salesmaster is a wholly owned subsidiary of Spartan.

Disclosed as part of the Company's continued strategic expansion into commercial surfaces; the goodwill arising from the acquisition is primarily attributable to operational synergies and acceleration of growth strategies.

Extended the Spartan commercial-surfaces platform into the New York City and New England regions, serving end users and flooring contractors. Goodwill of $2.5 million primarily attributable to operational synergies and acceleration of growth strategies; recorded $5.0 million of customer relationships amortized over an estimated 12-year useful life. Wholly owned subsidiary of Spartan