From Staff Reports
The Daily Citizen
Calhoun-based Mohawk Industries has completed its acquisition of Spano Group, a Belgian panel board manufacturer. The deal was announced Jan. 28. The total value of the acquisition was about $164 million. Spano had estimated sales of about $240 million in 2012.
“The combination of Unilin and Spano will deliver greater value for our customers and expand our product offering,” said Jeffrey S. Lorberbaum, Mohawk’s chairman and CEO. “Spano extends our customer base into new channels of distribution and adds technical expertise and product knowledge which we can leverage across the segment. The significant synergies between Unilin and Spano create opportunities to optimize manufacturing assets and processes, raw materials and operational efficiencies. We look forward to welcoming Spano’s talented team into the company.”