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Pharr closes on sale of two business units

February 6th, 2020 / By: / Company News

Pharr, a provider of differentiated textile products and assorted real estate businesses, announced today the sale of its Pharr Fibers & Yarns and Phenix Flooring divisions to Mannington Mills (Mannington) under an agreement previously announced in November 2019.

Based in Salem, N.J., Mannington manufactures residential and commercial sheet vinyl, luxury vinyl, laminate, resilient and hardwood floors as well as commercial carpet and rubber.

The acquisitions are expected to help establish Mannington as one of the largest suppliers in the floor covering industry, participating in both residential and commercial hard and soft surface categories. The company plans to continue current operations at Pharr’s manufacturing facilities in McAdenville, N.C., and Dalton, Ga.

In November, Pharr also announced the signing of its agreement to sell its Pharr High Performance business, a yarn supplier for the protective apparel industry, to Coats Group plc. That sale is expected to close early this year.

Pharr will maintain its other two companies: Belmont Land & Investment Company and Strand Hospitality Services.