Mohawk To Acquire Pergo for $150 Million

Calhoun, GA, Oct. 29, 2012 -- Mohawk Industries said it has entered into an agreement to purchase laminate maker Pergofor $150 million in cash.

Pergo's sales in 2011 were approximately $320 million in the U.S. and Europe.

The transaction is expected to close no later than first quarter of 2013.

Pergo has the most recognized laminate brand in the U.S. and Europe.

"This acquisition complements our specialty distribution network with Pergo's strength in the U.S. DIY channel," said Mohawk CEO Jeffrey Lorberbaum.

"In addition, Pergo leverages our geographic position and provides opportunities to enhance Unilin's patent portfolio. The combination of the entities offers significant opportunities to optimize the assets of both companies while enhancing the design and product performance of both brands.