Mohawk Industries (Calhoun, Ga.) announced Monday it has finalized an agreement to purchase laminate flooring maker Pergo for $150 million in cash. In a press release, Mohawk said the deal should be finalized no later than the first quarter of 2013.
Pergo operates manufacturing facilities in Sweden and the U.S. Mohawk said Pergo's 2011 sales in the U.S. and Europe totaled $320 million. "This acquisition complements our specialty distribution network with Pergo's strength in the U.S. DIY channel," said Mohawk CEO and Chairman Jeffrey S. Lorberbaum. "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."
