Mohawk Industries has entered into a definitive agreement to acquire the IVC Group.
IVC is a major manufacturer of sheet vinyl, luxury vinyl tile (LVT) and laminate, with operations in Europe and the U.S. and sales of approximately $700 million. Mohawk is acquiring IVC for approximately $1.2 billion through a combination of cash and equity. The transaction is expected to be completed around the end of the first quarter, pending customary closing conditions and regulatory approvals. Mohawk anticipates that the transaction will be accretive to EPS in the first 12 months.