Mohawk Completes Marazzi Acquisition
Calhoun, GA, April 3, 2013 -- Mohawk said it has completed the acquisition of the Marazzi Group for approximately $1.5 billion with a combination of cash and equity.
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Mohawk said it now has a leading position worldwide ceramic tile.
Marazzi operates manufacturing facilities in Russia, the U.S. and Western Europe and sells to more than 100 countries around the world. It manufactures all types of tile including glazed ceramic, glazed porcelain, technical tile and color body porcelain.
"The Marazzi acquisition continues the expansion of Mohawk's global business and will make us an even stronger company," said CEO Jeffrey Lorberbaum. With the combination, we have many opportunities to improve our ceramic performance by leveraging best practices, operational expertise, product innovation and manufacturing assets across the enterprise."
Marazzi holds the number one position in the Russian ceramic market.