Armstrong Flooring, Inc. has entered into a binding Asset Purchase Agreement with a consortium of buyers consisting of AHF, LLC and Gordon Brothers pursuant to which these buyers will acquire substantially all Armstrong Flooring Inc.’s North American assets for $107 million in cash and assumption of specified assumed liabilities. This binding Asset Purchase Agreement was the culmination of the Company’s Chapter 11 auction process for its North American assets.
The AHF and Gordon Brothers consortium would acquire substantially all of the assets of North America. AHF plans to continue operating the Lancaster, Kankakee and Beech Creek locations, and the Company would pursue an orderly winddown of its Jackson and Stillwater locations on July 15, 2022. Pending consummation of the sale of its North American assets, which is scheduled for July 22, 2022, Armstrong Flooring will continue to operate as usual in all North American geographies and remains committed to its customers and other stakeholders.
The proposed transactions are the outcome of a Court-supervised auction that commenced on June 27, 2022 during which the bid from the AHF and Gordon Brothers consortium was the sole binding bid received for substantially all of the North American assets. The proposed transactions are subject to Bankruptcy Court approval, as well as regulatory approvals and customary closing conditions.
Armstrong Flooring, Inc. is a global leader in the design and manufacture of innovative flooring solutions.
