Recent Acquisition

June 1, 2005
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HOUSTON, TX -- Master Tile announced that it has recently purchased the assets of Colours of the Rainbow Granite Partners and Citiglory Partners. Colours of the Rainbow is one of Houston's leading providers of marble and granite countertops and natural stone, and Citiglory is a national supplier of custom-cut natural stone countertops for commercial installations.

“This transaction makes great strategic sense for both companies,” said Y.J. Liu, president of Colours of the Rainbow. “We have been looking for the best way to expand our distribution and marketing reach for both the Colours and Citiglory businesses. With Master Tile, we can expand countertop sales throughout the central region by taking advantage of the existing branch network and sales force. Additionally, with Master Tile's national commercial sales capability we will be able to expand distribution of custom stone from our China factory. I've known Master Tile for a long time, we have a great relationship, and I look forward to working with everyone there to expand these businesses.”

Master Tile's CEO Hazem Farra concurred, saying, “We've known Y.J. Liu for a long time and value his expertise in natural stone. Adding 300 colors of slab, and an equally broad range of cut stone, in another central location, gives us a tremendous benefit. Y.J. Liu will take responsibility for expanding these businesses throughout Master Tile's operations, working in partnership with existing staff in our California and Florida operations, not just in Texas and Oklahoma. We look forward to welcoming him as a part of our senior management team.”

Colours of the Rainbow and Citiglory are privately held distributors of natural stone in Houston. Master Tile is among the nation's largest independent ceramic tile and stone distributors, with operations in California, Texas, Oklahoma, Louisiana, Arizona, Florida, Georgia and New Jersey.

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