Mohawk Industries announced it has entered into a definitive agreement to acquire the IVC Group—which includes the company’s Dalton operations consisting of its U.S. headquarters, a sheet vinyl factory and a state-of-the-art luxury vinyl tile (LVT) plant that is coming online. Mohawk is acquiring IVC for approximately $1.2 billion through a combination of cash and equity, with the transaction expected to be completed around the end of the first quarter.
Concerning the purchase price, $130 million will be in Mohawk stock and the rest will be financed through new debt, which Mohawk officials say they are in “very good position” to handle.