Calhoun, Ga.—Mohawk Industries has agreed to acquire the Godfrey Hirst Group, which provides broadloom, modular carpet and hard surface products for both residential and commercial applications for markets in Australia and New Zealand.
For Mohawk, which presently operates a comprehensive warehouse and sales network in Australia and New Zealand, the deal further extends its global position and paves the way for the company to distribute Godfrey Hirst’s wood, laminate, LVT, vinyl and carpet products. Godfrey Hirst generated revenues of approximately $334 million in its most recent fiscal year, which ended June 30, 2017.
The transaction is expected to be completed during the first half of 2018, pending customary closing conditions and regulatory approvals.
“Godfrey Hirst’s marketing, manufacturing and distribution leadership will complement our current hard surface distribution and strengthen our portfolio,” said Jeff Lorberbaum, Mohawk’s chairman and CEO. “We will leverage our global flooring resources and talent to support Godfrey Hirst’s outstanding management and accelerate their growth strategies.”
Mohawk’s strategy in Australia and New Zealand, according to Lorberbaum, is to build a leading position in flooring. “Mohawk is using its strong management team and balance sheet to increase its participation in the global flooring market. With Godfrey Hirst, Mohawk will become the leader in flooring products in both Australia and New Zealand with a platform for significant growth.”
Established in 1865, Godfrey Hirst has been owned and operated by the McKendrick family for the last 50 years and will continue to be led by R.G. (Kim) McKendrick, the CEO and chairman.
“This a great opportunity for Godfrey Hirst, our employees, customers and suppliers,” McKendrick said. “Mohawk and Godfrey Hirst share a long history as flooring industry leaders.”
Brian Carson, president of flooring-North America, Mohawk, said that with the impending acquisition, Mohawk’s family of brands has gained greater momentum. “Godfrey Hirst manufactures outstanding products to satisfy all channels and price points and is a perfect complement to Mohawk’s business.”
Carson noted that as a worldwide leader in flooring, Mohawk strives to create innovative products that improve the way people live and work. This move “will allow us to expand upon our worldwide mission to make people’s lives better through innovative products.”