Mohawk Industries, Inc. Completes Purchase Of Pergo
CALHOUN, Ga., Jan. 10, 2013 /CNW/ - Mohawk Industries, Inc.
(NYSE: MHK) today 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."
Certain of the statements in the immediately preceding
paragraphs, particularly anticipating future performance, business
prospects, growth and operating strategies and similar matters and
those that include the words "could," "should," "believes,"
"anticipates," "expects," and "estimates," or similar expressions
constitute "forward-looking statements." For those statements,
Mohawk claims the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995. There can be no assurance that the forward-looking
statements will be accurate because they are based on many
assumptions, which involve risks and uncertainties. The following
important factors could cause future results to differ: changes in
economic or industry conditions; competition; inflation in raw
material prices and other input costs; energy costs and supply;
timing and level of capital expenditures; timing and implementation
of price increases for the Company's products; impairment charges;
integration of acquisitions; international operations; introduction
of new products; rationalization of operations; tax, product and
other claims; litigation; and other risks identified in Mohawk's
SEC reports and public announcements.
ABOUT MOHAWK
Mohawk is a leading supplier of flooring for both residential
and commercial applications. Mohawk provides a complete selection
for all markets of carpet, ceramic tile, laminate, wood, stone,
vinyl and rugs. These products are marketed under the premier
brands in the industry including Mohawk, Karastan, Lees, Bigelow,
Durkan, Mohawk Home, Daltile, American Olean, Pergo, Unilin and
Quick-Step. Mohawk's international presence includes operations in
Australia, Brazil, China, Europe, Malaysia, Mexico and Russia.
SOURCE Mohawk Industries, Inc.