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Slide #20. Mohawk Industries, Inc. — Marazzi Group
Mohawk Industries, Inc. (NYSE:MHK)
Mohawk Industries, Inc. 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. Marazzi is held by the Marazzi family and two private equity fundsPermira and Private Equity Partners. Mohawk is acquiring Marazzi for approximately $1.5 billion, with a combination of cash and equity. We expect to complete the transaction during the first quarter of 2013 pending customary closing conditions and regulatory approvals. Mohawk anticipates that the transaction will be accretive in 2013.
Mohawk Industries is a global flooring manufacturer for residential and commercial spaces around the world. Co. has three segments: Global Ceramic, which designs, manufactures, sources, distributes and markets a line of ceramic, porcelain and natural stone tile products used for floor and wall applications; Flooring North America, which designs, manufactures, sources and distributes broadloom carpet, carpet tile, rugs and mats, carpet pad, laminate, medium-density fiberboard, luxury vinyl tile (LVT) and sheet vinyl; and Flooring Rest of the World, which designs, manufactures, sources and distributes laminate, LVT and sheet vinyl, wood flooring, broadloom carpet and carpet tile collections.
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Hold (2.29 out of 4)
(ranked lower than approx. 89% of all stocks covered)
Based on Zacks ABR data;
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