Mohawk's Spano Acquisition Gets European OK
New York, NY, April 26, 2013 -- Reuters reported that Mohawk's acquisition of Belgium-based chip board and melamine board manufacturer Spano has been approved by the appropriate regulatory agencies in Europe.
That will allow Mohawk to move ahead with the purchase.
This was the third of three recent acquisitions announced by Mohawk, which also purchased laminate maker Pergo and tile maker Marazzi.
Spano has processes very similar to that of Mohawk's Unilin division.
Mohawk said that that Spano had sales of 237 million euros (about $308 million in today's dollars).
Mohawk is paying $170 million for Spano.