Calhoun-based flooring giant Mohawk Industries Inc. has announced an agreement to acquire Sweden-based laminate flooring manufacturer Pergo for $150 million in cash.
The deal is expected to close in the first quarter of 2013, according to a Mohawk news release announcing the deal Oct. 29.
Since 2007, Pergo has been a subsidiary of Dusseldorf, Germany-based Pfleiderer AG, which is exiting the North American market with the sale of Pergo.
Pergo has factories in Garner, N.C.; Canada and Sweden. It sells laminate flooring mostly in the United States, Europe and Asia, with a strong customer base in the do-it-yourself channel.
That was a major attraction for Mohawk, which is using the acquisition partially to expand the patent portfolio of Unilin, its own laminate flooring and engineered-wood products unit, said Jeffrey Lorberbaum, Mohawk’s chairman and CEO, said in the release.