Mohawk Industries has completed its acquisition of the IVC Group for $1.2 billion in cash and stock.
According to the company, the acquisition significantly increases Mohawk’s presence in the luxury vinyl tile (LVT) and sheet vinyl categories.
"LVT now represents about 5% of the U.S. flooring market, with sales projected to grow more than 15% annually through the end of the decade," said a Mohawk representative. "Mohawk’s IVC acquisition includes a new LVT manufacturing facility in Dalton, which is in the initial stages of production."
Mohawk has distributed sheet vinyl and LVT products into the commercial and residential markets for a number of years, and the IVC product and manufacturing capabilities will complement and strengthen Mohawk’s existing product offerings to customers.
For more information, visit mohawkflooring.com.
