Calhoun, Ga.—Mohawk Industries has completed its acquisition of the IVC Group for $1.2 billion in cash and stock. IVC is a major vinyl and laminate flooring manufacturer with 2014 revenues of approximately $735 million and manufacturing operations in Belgium, Luxembourg and the U.S. The acquisition expands Mohawk’s position as the world’s largest flooring manufacturer and significantly increases Mohawk’s presence in the LVT and sheet vinyl categories.
LVT now represents about 5% of the U.S. flooring market, with sales projected to grow more than 15% annually through the end of the decade. Mohawk’s IVC acquisition includes a new LVT manufacturing facility in Dalton, which is in the initial stages of production. The facility features one of the world’s largest, most efficient production lines and will position the business to support the rapidly growing demand for LVT in residential and commercial channels.
IVC is also a major sheet vinyl manufacturer, creating flooring with a fiberglass core that yields a cushioned product that does not crack, curl or expand, making it durable and easy to install.
Mohawk has distributed sheet vinyl and LVT products into the commercial and residential markets for a number of years, and the IVC product and manufacturing capabilities will complement and strengthen Mohawk’s existing product offerings to its customers.