Mohawk Completes Pergo Acquisition
CALHOUN, Ga.-Mohawk Industries has closed on its acquisition of Pergo, a manufacturer of laminate flooring.
According to a Mohawk statement, the floor-covering giant paid $150 million in cash for Pergo, whose 2011 sales were about $230 million in the United States and Europe. Jeff Lorberbaum, Mohawk chairman and CEO, said the Pergo brand will complement Mohawk's existing laminate offering. The acquisition aligns the strength of Unilin, Mohawk's existing laminate brand, in specialty flooring retailers with Pergo's depth in the U.S. do-it-yourself channel, Lorberbaum said.
"The combination offers significant opportunities to optimize the assets of both companies while strengthening the design and product performance of both brands," Lorberbaum said.