Mohawk Industries, Inc. completes purchase Of Pergo
CALHOUN, GEORGIA, January 11, 2013-
Mohawk Industries, Inc. (NYSE: MHK) announced that it has completed the acquisition of Pergo, a leading manufacturer of premium laminate flooring. The transaction was previously announced on October 29, 2012. The total value of the acquisition was $150 million in cash. In 2011, Pergo's sales were approximately $320 million in the U.S. and Europe.
In commenting on the closing, Jeffrey S. Lorberbaum, Mohawk's Chairman and CEO, stated, "We are pleased to expand our laminate offering with the highly regarded Pergo brand and designs that complement our existing laminate products. The acquisition aligns Unilin's strength with specialty flooring retailers with Pergo's depth in the U.S. DIY channel. In addition, Pergo enhances our geographic position and provides a platform to further leverage Unilin's patented technologies. The combination offers significant opportunities to optimize the assets of both companies while strengthening the design and product performance of both brands."
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