The $1.5 billion acquisition of an Italian tile maker by Georgia-based Mohawk Industries will make the Calhoun company the leader in ceramic tile manufacturing, Mohawk said.
Marazzi Group is the leading manufacturer and marketer of ceramic tile in its major geographies, Mohawk said in a press release, including Russia and the United States. It employs 6,300 people.
“This acquisition represents the next step in the expansion of Mohawk’s global business and will make Mohawk a stronger company,” Jeff Lorberbaum, Mohawk’s chairman and CEO, said in a statement.
Ceramic tile is the world’s most-used flooring, and has growth of 5 to 6 percent a year, Mohawk said.
The purchase is expected to close in the first quarter of the year.
During the recession, Mohawk’s revenues and sales declined, but the company has had strong revenue growth the past three quarters. In part, its strength has been due to its Dal-Tile ceramic brand.
In October, Mohawk bought the laminate flooring company Pergo for $150 million.
About the Author
