Alston & Bird client Mohawk Industries, Inc., has entered into a definitive agreement to acquire IVC Group, a Belgium-based flooring manufacturer, for approximately $1.2 billion in cash and equity.
The acquisition is the latest that the firm has acted on for Mohawk, having advised the company on a string of acquisitions in recent years, including Swedish flooring company Pergo for $150 million in 2014, Italian ceramic tile manufacturer Marazzi Group for $1.5 billion in 2012 and U.S. ceramics tile maker Daltile for $1.7 billion in 2001, among many others.
Listed on the New York Stock Exchange, Mohawk is the world’s largest flooring company, with operations in Australia, Brazil, Canada, China, Europe, India, Malaysia, Mexico, Russia and the United States. In addition to Pergo, Marazzi and Daltile, the company’s brands include American Olean, Bigelow, Durkan, Karastan, Lees, Kerama Marazzi, Mohawk, Unilin and Quick-Step.
Mohawk was advised by an Alston & Bird team led by partner Paul Nozick and associate Marshall Chalmers (Corporate & Finance), with support from partner Sam Kaywood and senior associate Brian Harvel (Federal & International Tax) and partners Blake MacKay (Employee Benefits & Executive Compensation), Chris Marquardt (Labor & Employment) David Teske (Intellectual Property) and Valarie Williams (Antitrust).
Source: www.alston.com