Mohawk Industries Acquires Belgian Laminate Flooring Maker Unilin Holding NV
Mohawk Industries has completed the acquisition of Unilin Holding NV, a Belgian manufacturer of laminate flooring products, for approximately €2.2 billion.
Calhoun, Georgia – Mohawk Industries announced on October 31, 2005, that it finalized the acquisition of Unilin Holding NV, a Belgium-based manufacturer and marketer of laminate flooring products.
The total value of the transaction is approximately €2.2 billion (US$2.6 billion), financed through debt. In 2004, Unilin reported sales of approximately €823.3 million (US$988.0 million).
Jeffrey S. Lorberbaum, Chairman and CEO of Mohawk, stated the acquisition strengthens Mohawk's position as a total flooring company. Unilin's business diversifies Mohawk's product base, distribution strategy, and geographic footprint. Laminate flooring is noted as exceptionally popular in Europe and rapidly gaining market share in the U.S.
The company anticipates the acquisition will be accretive to earnings in 2006 and expects synergistic opportunities, including accelerating Unilin's U.S. market share growth and leveraging Mohawk's brands and distribution channels.
Mohawk Industries is a global supplier of flooring for residential and commercial spaces, offering carpet, ceramic tile, laminate, wood, stone, vinyl, and rugs under various brands.