Portuguese Mill Buys BR-111 Stake
Portugal’s Ribadao Industria de Madeiras S.A. has purchased a stake in U.S. flooring brand BR-111. With its investment, Ribadao will “increase its support in the BR-111 supply chain including flooring production, lumber acquisition, and quality control,” according to a release from BR-111.
BR-111 President Ricardo Moraes declined to elaborate on financial details of the transaction, including how big a stake Ribadao now controls of BR-111.
One of Europe’s largest flooring mills, Ribadao sources its lumber from Brazil and the Democratic Republic of the Congo. Some of Ribadao’s offerings include wenge, sapele, iroko, and afzelia, and it produces solid, engineered, prefinished, and unfinished flooring and moldings. The company carries FSC Chain of Custody and ISO 9001 certifications, and it is also CARB- and CE-compliant. BR-111 says Ribadao’s production capacity is more than 1.5 million square feet per month. In addition to its offices throughout Europe, Ribadao also maintains offices in South America, Australia, Africa and Asia.
“This new partnership with Ribadao gives us access to world-class production capabilities from one of the largest flooring producers in Europe,” Moraes said.
With the purchase, BR-111 dealers now have access to more exclusive species than ever before, Moraes added, including a slate of new products to be released this summer. Some of the first will range in price from $5.99 to $7.99 per sq. ft.