Mohawk Industries said Wednesday it has completed its $1.6 billion acquisition of ceramic tile maker Marazzi Group.
Another deal, however, Mohawk’s efforts to buy Belgian panel board maker Spano Invest NV, remains under European Commission review.
Calhoun-based Mohawk announced the Marazzi acquisition in December. The Italian company sells tiles in more than 100 countries and has plants in the U.S., Western Europe and Russia.
“The Marazzi acquisition continues the expansion of Mohawk’s global business and will make us an even stronger company,” Chairman and CEO Jeffrey Lorberbaum said in announcing the deal’s completion. Ceramic tile is the world’s most-used flooring and has growth of 5 to 6 percent a year, Mohawk said.
The Marazzi acquisition is one of several by Calhoun-based Mohawk in recent months. The company completed its purchase of Swedish laminate flooring company Pergo for $150 million in January. Pergo has manufacturing facilities in Sweden and the U.S.
Mohawk’s deal to acquire Spano remains under EU review. An effort to reach Mohawk for comment on the review was unsuccessful.
Spano, which Mohawk is acquiring for $168 million, manufactures and distributes chip and melamine boards used in furniture construction and as building materials. The company is majority-owned by Belgian holding company Ackermans & Van Haaren.
The EU may decide by April 23 whether the deal complies with anti-competition regulations. Mohawk, the world’s largest flooring maker and second-largest carpet maker, hopes to close the Spano deal in the second quarter.
About the Author
