Calhoun, Ga.-- Mohawk Industries plans to acquire Brazilian ceramics manufacturer Eliane for $250 million. The deal is anticipated to close by the end of the year.
"On October 15, we executed an agreement to purchase Eliane, one of the largest ceramic tile companies in Brazil, for approximately $250 million,” said Jeffrey S. Lorberbaum, chairman and CEO, in the company’s third quarter earnings statement. “Brazil is the world's third largest ceramic tile market, where Eliane is a leader in premium porcelain with annual sales of approximately $215 million. We anticipate the acquisition closing in the fourth quarter.”
For more information, visit mohawkind.com.