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Mohawk Industries Inc Announces Purchase Of Marazzi Group


Thursday, 20 Dec 2012 04:22pm EST 

Mohawk Industries Inc announced that the Company has entered into a definitive agreement to acquire the Marazzi Group, which will make Mohawk in ceramic tile. Mohawk is acquiring Marazzi for EUR1.17 billion, or approximately $1.5 billion, with a combination of cash and equity. Marazzi's estimated 2012 EBITDA of E145 million represents a purchase multiple of about eight times. We expect to complete the transaction during the first quarter of 2013 pending customary closing conditions and regulatory approvals. Mohawk anticipates that the transaction will be accretive in 2013. 

Company Quote

130.43
-0.99 -0.75%
24 Jul 2014