Mohawk Industries recently purchased the Wear-Dated residential fiber brand from Solutia. As part of the deal, Mohawk will assume ownership of the Wear-Dated Reward for Life retail sales incentive and marketing co-op programs. The commercial fiber brand, Ultron, will remain with Solutia. Financial terms were not disclosed.
Tom Lape, president of Mohawk’s residential division, said the Wear-Dated brand is an important addition to Mohawk’s portfolio. “Wear-Dated is a valuable brand asset and among the top five consumer-recognized names in carpet,” he said. “The purchase of the Wear-Dated brand complements our brand strategy and long-term vision for our company.”
The acquisition arises from a partnership started four years ago when Mohawk announced a long-term strategic alliance with Wear-Dated and 3M’s Scotchgard Protector Advanced Repel Technology. “That’s what makes this acquisition so beautiful: it’s a natural evolution,” said Christine Whittemore, Wear-Dated director of in-store innovation. The sale to Mohawk does not include any plants or manufacturing assets.
‘A valuable brand asset': Mohawk buys Wear-Dated
March 10, 2009