Mohawk Industries Inc. has completed the acquisition of Lees Carpet for approximately $346 million subject to adjustment for working capital amounts at closing. These final adjustments are required to be complete within 45 days of closing. The acquisition was an asset purchase and was financed with existing credit facilities.

"This acquisition will allow us to provide a broader selection of products and an even higher level of service for both Mohawk and Lees customers," said Jeffrey S. Lorberbaum, president and CEO.