Delphi has advised Unilin and Mohawk Industries, Inc. (NYSE: MHK) on the acquisition of Pergo, for $150 million in cash. Pergo’s sales in 2011 were approximately $320 million in the U.S. and Europe. The transaction was announced on 29 October 2012 and the transaction closed on 10 January 2013.
Pergo is a leading manufacturer of premium laminate flooring with the most recognized brand in the U.S. and Europe. Pergo has been a leader in laminate flooring technology, including unique patents on design and installation methods. Pergo operates manufacturing facilities in Sweden and the U.S.
In commenting on the acquisition, Jeffrey S. Lorberbaum, Chairman and CEO of Mohawk Industries, Inc., stated, “Pergo is a leader in laminate flooring in the U.S. and Nordic countries with premium value added strategies. This acquisition complements our specialty distribution network with Pergo’s strength in the U.S. DIY channel. In addition, Pergo leverages our geographic position and provides opportunities to enhance Unilin’s patent portfolio. The combination of the entities offers significant opportunities to optimize the assets of both companies while enhancing the design and product performance of both brands.”
Delphi’s team was led by David Aversten and Magnus Björkander and included Paula Hogéus, Elisabeth Eklund, Johan Hübner, Sverker Bonde, Erica Nobel, Michael Juhlin, Fredrik Mörner, Erika Rosenberg, Andreas Wirén, Rickard Isacson, Gunnar Svedberg, Daniel Svensson-Lundqvist, Johan Wijk and Oscar Jansson.
Delphi coordinated the legal work in all 14 jurisdictions outside of the US, with the aid of local legal counsel. The US legal work was handled and led by Alston & Bird.
Local legal counsel included inter alia Simont Braun, Van Doorne, Gleiss Lutz, Herbert Smith, Vischer, and others.
For more information, please see Mohawk and Unilin press releases:
Mohawk Industries, Inc. Completes Purchase Of Pergo
Mohawk Industries, Inc. Announces Agreement To Purchase Pergo
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