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Mohawk Industries Inc. recently announced that it has completed the acquisition of the Marazzi Group for approximately $1.5 billion. The acquisition reportedly gives Mohawk the leading position in worldwide ceramic tile. The Marazzi Group operates manufacturing facilities in Russia, the U.S. and Western Europe, and sells to more than 100 countries around the world.
“The Marazzi acquisition continues the expansion of Mohawk’s global business and will make us an even stronger company,” said Jeffrey S. Lorberbaum, chairman and CEO, Mohawk. “Marazzi’s innovative products, leading-edge designs, efficient manufacturing and excellent service have created one of the industry’s most valuable brands. 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.”
For additional information, visit www.mohawkind.com.