Mohawk completes €125m takeover
Mohawk Industries, the world's largest flooring manufacturer, has completed its acquisition of Spano Group.
'The combination of Unilin and Spano will deliver greater value for our customers and expand our product offering. Spano extends our customer base into new channels of distribution and adds technical expertise and product knowledge that we can leverage across the segment,' says Jeffrey Lorberbaum, Mohawk executive chairman.
'The significant synergies between Unilin and Spano create opportunities to optimize manufacturing assets and processes, raw materials and operational efficiencies. We look forward to welcoming Spano's talented team into the company.'
The deal for the Belgian panel board manufacturer was previously announced on 28 January. Last month Mohawk paid US$1.5bn for tile group Marazzi and last October it paid £93.5m for Pergo.