Bonita Springs, Fla.— Abbey Carpet Co. has done something for the first time in its 40-plus year history: it bought another franchise operation. Floor covering’s oldest buying group has acquired Floors To Go, one of the industry’s younger franchise systems, having been formed in the mid 1990s. The deal, expected to close at the end of June, is a 100% stock purchase. The upstart Floors To Go was founded by Jake Kimmel, chairman and CEO, who, with the help of Gene Presson, vice president, and their staff, grew the buying group to 140 members, many of which attended the franchisor’s recent seventh annual convention ( FCNews, May, 13/20). Philip Gutierrez, Abbey’s chairman and CEO, said even though Floors To Go is coming under the Abbey umbrella, it will be run separately. “It won’t be marching to the same beat.”

In fact, Presson will be relocating from Floors To Go’s headquarters in Shingle Springs, Calif., to Abbey’s corporate headquarters here in order to run the operation. “This is a tremendous opportunity for both organizations to expand their market presence,” Gutierrez said. “Floors To Go not only enhances our corporation, it will allow us to provide Floors to Go members with the benefits of our highly professional merchandising, marketing, advertising, financial services and technical support capabilities. “Jake and Gene have done a wonderful job helping their members prosper,” he continued, “but, we have a very successful infrastructure that can be used to take them to the next level.” Gutierrez said Abbey will work to not only improve the Floors To Go program where needed, but do for it what it has done for its members and group as a whole—grow.

He pointed out that in 1994 Abbey had 250 members and, today, it is closing in on 800. “One day soon we’ll be around 1,000. But, due to a number of factors such as demographics that will be about all the Abbey franchise can accommodate. We want to bring that same sort of dynamic growth to Floors To Go.” In addition to increasing its overall membership, Gutierrez noted how the individual Abbey stores have expanded. “Our average member today runs a much bigger, more sophisticated store than ever before. We want to bring the things that have made our Abbey members become successful to the Floors To Go membership. This includes an extensive staff dedicated to developing a variety of programs and services, from educational offerings and selling techniques to merchandising and back office help.”

Kimmel, who noted he will be retiring once the acquisition closes, said the time was right to sell Floors To Go, and turning it over to Abbey will be a great benefit to his members. “Abbey will grow Floors To Go using the same formula for success that has worked for its members since 1958. I believe we are providing a great opportunity for our members. We are putting them in the hands of a very capable and successful company that will enlarge the membership and help to increase their profitability.”