Mohawk Completes Marazzi Deal

CALHOUN, Ga. – The seven-figure purchase of ceramic-tile giant Marazzi Group S.p.A. by Mohawk Industries Inc. became final today.

Valued at approximately $1.5 billion in combined cash/equity, the deal brings Modena, Italy-based Marazzi under Mohawk’s corporate ownership, along with DalTile and other flooring/surfaces companies.

Marazzi, founded in 1935, offers 5,500 products mainly in ceramic tile, along with mosaics and a selection marble and other natural stones. The company employs more than 6,000 worldwide (650 in the United States) with 2012 revenues of approximately €858 million ($1.13 billion at Dec. 31, 2012, exchange rates).

The company operates manufacturing facilities in Sunnyvale, Texas, Western Europe and Russia, and sells in more than 100 countries around the world through 14,500 points of sale.

The transaction acquires all of Marazzi’s outstanding ownership shares and retires the company’s outstanding debts, according to a Security and Exchange Commission filing from Mohawk in February. Mohawk initially announced the deal in December.

“The Marazzi acquisition continues the expansion of Mohawk’s global business and will make us an even stronger company,” said Jeffrey Lorberbaum, Mohawk’s chairman/CEO. “Marazzi’s innovative products, leading-edge designs, efficient manufacturing and excellent service have created one of the industry’s most valuable brands.”

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