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.


Northwest Georgia’s Unemployment Rate Rises To 7.7 Percent In June

The Georgia Department of Labor announced today that the unemployment rate in the Northwest Georgia region increased to 7.7 percent in June, up four-tenths of a percentage point from 7.3 percent in May. The rate was 8.9 percent in June a year ago. The rate increased because of seasonal factors, such as the summer job loss among non-contract school workers and a rise in the labor ... (click for more)

Metro Dalton’s Unemployment Rate Rises To 9.3 Percent In June

The Georgia Department of Labor announced that Metro Dalton’s unemployment rate increased to 9.3 percent in June, up five-tenths of a percentage point from 8.8 percent in May. The rate was 11.1 percent in June a year ago. The rate increased because of seasonal factors, such as the summer job loss among non-contract school workers and an increase in the labor force as graduates ... (click for more)

EPB Files With FCC To Expand TV, Phone, Internet Offerings Outside Electric Service Area

 EPB announced Thursday that it has filed a petition to the FCC "in an effort to respond to neighboring communities’ requests for access to the company’s gigabit enabled high-speed Internet service." Officials said, "EPB offers high-speed Internet access, video programming and voice services using a fiber optic communications network that allows the company to deliver these ... (click for more)

Black Creek Developers Say They "Followed The Rules" On $9 Million TIF: To Continue Project

The developers of the Black Creek project at Aetna Mountain said Thursday they "complied precisely by the rules when we applied for and received approval of the TIF district." Doug Stein said the group plans to continue on with the project, which he said earlier would include the creation of a small town on a huge undeveloped tract on the mountain above Black Creek (formerly ... (click for more)

Pickle Ball? - And Response

Collegedale has done some wonderful things for its residents.  The Greenway is a perfect example of money well spent on helping to give her residents the opportunity to improve their lives, at least from a health standpoint. Having taught at Wolftever Creek for a decade plus, I was fortunate to have opportunity to take my classes on walks from time to time.  It provided ... (click for more)

Roy Exum: Say It Ain't So, Larry Joe!

Larry Joe Wheelon, the tainted horse trainer who was charged with 18 counts of aggravated animal cruelty when his barn was raided in April of 2013 and some animals were sored so badly that they could barely walk, finally went to a court hearing in Blount County on Wednesday and his steps toward Judge Tammy Harrington’s bench were decidedly heavy. My goodness, yours would have been ... (click for more)