Calhoun, Ga. — Mohawk Industries has completed its acquisition of the IVC Group for $1.2 billion in cash and stock.
IVC is a vinyl and laminate flooring manufacturer with 2014 revenues of approximately $735 million and manufacturing operations in Belgium, Luxembourg and the United States.
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.