Flooring Brands expands

Chief executive Rodney Martin. Photo / Paul Estcourt

A New Zealand flooring company has strengthened its position across the Ditch after purchasing Australia's largest flooring business.

Flooring Brands announced its acquisition of Master Kelwin Floors yesterday, increasing the group's worth to $260 million.

Master Kelwin has been operating in Australia since 1972 and is reported to make more than A$50 million ($65 million) each year.

The founder, chief executive, and chairman of Flooring Brands, Rodney Martin, said the acquisition offers his company more opportunities in the Australian market.

"Master Kelwin is a fabulous company," he said.

"It's the biggest and the best commercial flooring business in Australia, and we have many possibilities to adopt its best practices here in New Zealand."

It is the latest in a string of buyouts since Flooring Brands formed in 2004 with the acquisition of Carpet Court in Dunedin, Napier and Palmerston North.

It is the company's second foray into the Australian market, the first being the purchase of Melbourne Carpets Specialists in 2007.

Martin does not plan to slow his move on Australian industry.

"Australia is more buoyant than New Zealand at the moment, both commercially and residentially, and presents us with attractive growth opportunities," he said.

"We will continue to look for viable acquisitions in Australia that add value to our group."