Mohawk Industries Inc. (MHK) announced that it has completed the acquisition of the Marazzi Group for about $1.5 billion with a combination of cash and equity.
The Marazzi Group is a manufacturer and marketer of ceramic tile in all its major geographies, including Russia, the United States and Western Europe. The Marazzi's 2012 revenues were about 858 million euros.
In December 2012, Mohawk Industries had announced that it entered into a definitive agreement to acquire the Marazzi Group for 1.17 billion euros, or about $1.5 billion, with a combination of cash and equity.
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