The Dixie Group Acquires Atlas Carpet Mills

Friday, March 14, 2014

The Dixie Group, Inc. on Friday announced its agreement to acquire Atlas Carpet Mills, a high-end manufacturer and marketer of commercial floorcovering products located in Los Angeles.

As outlined in its agreement, closing of the acquisition is scheduled for Wednesday. In commenting on the agreement, Daniel K. Frierson, Dixie’s chairman and CEO said, “We are very pleased to announce our agreement to acquire Atlas. Dixie and Atlas have had a long relationship that goes back over 40 years. Jim Horwich, founder of Atlas, will remain with us as president of Atlas reporting to Kennedy Frierson, Dixie’s chief operating officer. Mark Nestler, executive vice president and Scott Price, vice president of Manufacturing will continue in their respective leadership roles at Atlas.

Kennedy Frierson said, “Atlas has a very strong sales force and excellent brand equity in the market place, which should maximize our opportunities for growth. This strong market position has been created by the superior design and styling of their product offerings.” Mr. Frierson further commented, “Following our acquisition, the Saybrook tufting, coating, inspection and shipping operations of Atlas will continue normal operations. In addition, there will be no change to the administrative, product development and sales functions of the company. However, over the next several weeks, Atlas’ dyeing operations will be consolidated into Dixie’s Susan Street facility located in Santa Ana, California. Many of the associates who now work in the Atlas dye facility will transfer to the expanded Santa Ana dyeing operations.

"Atlas had sales of approximately $53 million in 2013, having offerings in both broadloom and modular carpet tile. They have demonstrated superior management, with profitable operations every year of the company’s 44 year history. Although Atlas will operate as a separate brand within the Dixie portfolio, we believe there are significant synergies from the consolidation of the two dye houses and utilization of other Dixie assets."

The acquisition of Atlas will be an all cash transaction and will involve retaining the top three officers under five year contracts. The seller was represented in the transaction by Greenberg Glusker Fields Claman & Machtinger LLP and the buyer by Miller & Martin PLLC.


Attorney General Slatery Names Solicitor General

Tennessee Attorney General Herbert Slatery announced that Andrée Sophia Blumstein will join the office as solicitor general.   Mrs. Blumstein will oversee appellate litigation in state and federal courts, review written opinions, and advise the attorney general. “I could not be more pleased that Andrée has accepted this important appointment,” Attorney General Slatery ... (click for more)

Northwest Georgia’s Unemployment Rate Falls To 7.1 Percent In September

The Georgia Department of Labor announced Thursday that the unemployment rate in the Northwest Georgia region in September was 7.1 percent, down 1.0 percent from 8.1 percent in August. The rate in September of last year was 7.8 percent. The rate dropped because there were 4,034 fewer unemployed people in the Northwest Georgia area in September, according to the federal government’s ... (click for more)

Mayor Berke, Chattanooga Police Department, And Community Members Reach Out To Group Members To End Violence

The city of Chattanooga held a call-in on Thursday night, as part of the Violence Reduction Initiative. Dozens of law enforcement officials, community members, social service providers and clergy gathered to deliver a message to over 20 members of violent groups in Chattanooga. Family members of the probationers watched the call-in from another building. Although the call-in was ... (click for more)

Man Airlifted To Erlanger After Early Morning Crash In Bradley County

Bradley County EMS responded to an early morning crash Thursday at 7 a.m. at the intersection of Lauderdale Memorial Highway and Walker Valley Road in Charleston. Three ambulances and an EMS supervisor responded to the scene. There were three vehicles involved and one car left the roadway.   One adult man suffered serious injuries and it was determined that he needed ... (click for more)

Chairs Cost How Much?

Many times while growing up, I would go to the store with my parents. More often than not, I would see something I wanted, and ask my parents to buy it for me. More often than not, they said no. “Why?” I asked. “Son, money doesn’t grow on trees.” That’s a phrase I’m sure many of us have heard more than once over the course of our lives. However, I have since learned that they were ... (click for more)

Roy Exum: My Dear Friend Luther

One sunny morning in June years ago, the renowned radio icon Luther Masingill was on his way back to the WDEF studios on South Broad Street when he stopped for a red light and noticed a young couple in a car idling next to his familiar light blue Ford pickup. “What caught my eye was a buck-toothed boy eating a banana in the back seat,” he explained in an aside to that day’s lunchtime ... (click for more)