New York, NY, Nov. 26, 2012 -- Mohawk Industries is reportedly in advanced talks to buy Italian ceramics maker Marazzi Group, Reuters reported, citing two sources familiar with the deal.
According to an unidentified source, the talks are in an advanced due diligence stage but it's not clear how likely the deal is to be finalized.
Reuters reported that one of its sources put the deal at about $1.2 billion.
Nobody from either company commented for the Reuters story.
According to Floor Focus data, Mohawk/Daltile had $607 million in sales last year (34% marketshare) and Marazzi USA had $244 million in sales (13.7% marketshare). Combined, they would command almost 50% of the U.S. market.
Marazzi recently announced that Andrea Sasso, formerly managing director of Elica SpA, was named managing director and that CEO Maurizio Piglione had resigned.
Mohawk recently purchased laminate maker Pergo.