Mohawk Industries Will Buy Pergo for $150M
Mohawk Industries, Inc. (NYSE: MHK) announced today that it has entered into an agreement to purchase Pergo, a manufacturer of laminate flooring, for $150 million in cash. Pergo's sales in 2011 were approximately $320 million in the U.S. and Europe. The business is expected to be accretive in the first year. This transaction is expected to close no later than first quarter of 2013 and is subject to customary governmental approvals and closing conditions.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.