Mohawk Industries, Inc. announces purchase of Marazzi Group
CALHOUN, GA -- Mohawk Industries, Inc. (NYSE: MHK) has announced that the Company has entered into a definitive agreement to acquire the Marazzi Group, which will make Mohawk the worldwide leader in ceramic tile.
The Marazzi Group is a leading manufacturer and marketer of ceramic tile in all its major geographies, including Russia, the U.S., Italy, France and Spain. Marazzi’s 2011 revenues were about €833 million, or $1.16 billion, with EBITDA of approximately 15.5% under historical IFRS accounting. Marazzi is held by the Marazzi family and two private equity funds—Permira and Private Equity Partners.