FURTHER SOLIDIFIES PRESENCE IN METRO NY AND NORTHERN NJ AREAS
Newport News, VA – January 20, 2014 – Ferguson, the largest wholesale plumbing distributor in the U.S., announces the acquisition of Karl’s Sales and Service Company, LLC (Karl’s Appliance) in an asset transaction completed January 20, 2014.
Karl’s Appliance was founded in 1941 and is one of the 30 largest appliance dealers in the country. With six showrooms in northern New Jersey, it is the largest premium appliance resource in the area. Post-acquisition, the company will operate as Karl’s Appliance, a Ferguson enterprise.
“We are excited to add Karl’s Appliance to the Ferguson family,” said Ferguson CEO Frank Roach. “Coupled with the addition of Davis & Warshow, this acquisition further expands our showroom footprint and solidifies our presence in the New York metropolitan area.”
Ferguson plans to expand Karl’s Appliance’s product offering to include plumbing and lighting, transforming the showrooms into a “one-stop shop” for both professional trade customers and homeowners.
“Ferguson will build upon the reputation we’ve already established in the marketplace by adding their full array of kitchen and bath products, and their world-class customer service philosophy aligns with how we’ve treated our customers since the beginning,” said Karl’s Appliance President Dan Schwartz. “I see this acquisition as a very positive thing for our customers.”
In 2012, Ferguson acquired Davis & Warshow, metro New York’s leading residential and commercial plumbing supplier. The company also acquired The Davidson Group in 2007, a leading distributor of pipe and tubing, valves, fittings, and piping accessories in Brooklyn, N.Y.