Mohawk Industries, Inc. recently announced that it has completed the acquisition of the Marazzi Group for approximately $1.5 billion with a combination of cash and equity. The Marazzi Group is a global leader in ceramic tile with worldwide brand recognition and 2012 revenues of about €858 million. Marazzi operates manufacturing facilities in Russia, the United States and Western Europe and sells to more than 100 countries around the world. Marazzi manufactures all types of tile including glazed ceramic, glazed porcelain, technical tile and color body porcelain.
In commenting on the closing, Jeffrey S. Lorberbaum, Mohawk’s Chairman and CEO, stated, “The Marazzi acquisition continues the expansion of Mohawk’s global business and will make us an even stronger company. Marazzi’s innovative products, leading-edge designs, efficient manufacturing and excellent service have created one of the industry’s most valuable brands. With the combination, we have many opportunities to improve our ceramic performance by leveraging best practices, operational expertise, product innovation and manufacturing assets across the enterprise.”