Mohawk Industries is to buy Belgian laminate flooring producer Unilin Holding NV in a €2.2bn deal.
Georgia-based Mohawk says the acquisition is the second step in its diversification into a total flooring company. The deal is expected to be completed during the fourth quarter.
Mohawk chairman and chief executive officer Jeffrey Lorberbaum said: “Laminate flooring has demonstrated exceptional growth and market share gains in Europe over the last decade, and the 2004 US market of US$1.2bn, which grew at 24% from 2003, is currently anticipated to grow in excess of 15% per annum.”
Unilin, which manufactures the popular Quick Step brand with Uniclic glueless installation system, is currently completing the expansion of a new flooring plant in the US.
Mohawk’s products include carpets, rugs, hardwood, laminate, ceramic tiles and vinyl flooring.
