From Staff Reports
Calhoun-based Mohawk Industries has agreed to buy laminate flooring manufacturer Pergo for $150 million in cash.
Pergo’s sales in 2011 were approximately $320 million in the U.S. and Europe. The transaction is expected to close no later than the first quarter of 2013 and is subject to customary governmental approvals and closing conditions.
“Pergo is a leader in laminate flooring in the U.S. and Nordic countries with premium value-added strategies,” said Jeffrey S. Lorberbaum, Mohawk chairman and CEO. “This acquisition complements our specialty distribution network with Pergo’s strength in the U.S. DIY (do-it-yourself) channel. In addition, Pergo leverages our geographic position and provides opportunities to enhance Unilin’s patent portfolio. The combination of the entities offers significant opportunities to optimize the assets of both companies while enhancing the design and product performance of both brands.”
Pergo is a manufacturer of premium laminate flooring in the U.S. and Europe. It has two manufacturing facilities in both the United States and Canada, as well as two plants in Sweden.