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Q.E.P. Co., Inc. Announces Partnership/Distribution Agreement With Congoleum Corporation

BOCA RATON, Fla., Dec. 05, 2018 (GLOBE NEWSWIRE) -- Q.E.P. Co., Inc. (OTC: QEPC.PK) announced today that it has signed a Partnership/Distribution Agreement with the Congoleum Corporation, a leading manufacturer of specialty flooring, effective January 1, 2019.

Q.E.P. will continue to be the distributor and representative for Congoleum in Canada, through its recent business acquisition of Kraus Floors. The agreement expands the territory coverage to include most of the western portion of the United States on an exclusive basis. QEP/Kraus will represent all Congoleum flooring products, including the introduction of their innovative new flooring product called “Cleo”.

Congoleum Chief Executive Officer Chris O’Connor commented: “We truly value our long-standing relationships and couldn’t be more excited for this opportunity to grow the western region with Q.E.P.’s Kraus distribution network.  We are confident that the region offers a nearly untapped opportunity that will result in incredible benefits for both companies.”  O’Connor added, “This is an incredibly exciting time for our company, our distribution partners and our retailers.”

Lewis Gould, Chairman of Q.E.P. Co., Inc. commented, “We are very enthused about this great partnership through our recent business acquisition of Kraus Floors, headed by Shawn Davies.  We believe that this partnership will create new synergies going forward for our company in the flooring industry.” Mr. Gould concluded, "We look forward to growing this relationship with Congoleum."

Q.E.P. Co., Inc., founded in 1979, is a world class, worldwide provider of innovative, quality and value-driven flooring and industrial solutions. As a leading manufacturer, marketer and distributor, QEP delivers a comprehensive line of hardwood and laminate flooring, flooring installation tools, adhesives and flooring related products targeted for the professional installer as well as the do-it-yourselfer. In addition, the Company provides industrial tools with cutting edge technology to the industrial trades. Under brand names including QEP®, ROBERTS®, Capitol®, Harris®Wood, Kraus®, Naturally Aged Flooring®, Fausfloor®, Vitrex®, Homelux®, TileRite®, PRCI®, Nupla®, HISCO®, Plasplugs®, Ludell®, Porta-Nails®, Tomecanic®, Bénètiere®, Elastiment®, X-TREME Board™ and AppleCreek™, the Company sells its products to home improvement retail centers, specialty distribution outlets, municipalities and industrial solution providers in 50 states and throughout the world.

CONTACT:
Q.E.P. Co., Inc.
Mark S. Walter
Senior Vice President Finance and
Chief Financial Officer
561-994-5550

/EIN News/ --

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