Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Mohawk Will Buy Spano Invest

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

On Monday, flooring manufacturer Mohawk Industries (NYSE: MHK  ) announced that it has entered into an agreement to purchase Belgian panel board manufacturer Spano Invest NV for $168 million in cash.

Spano, a manufacturer and distributor of chip and melamine boards used in furniture construction and as building materials, is believed to have produced $231 million in revenues in 2012. As such, Mohawk is paying approximately 0.73 times annual sales for the Belgian company -- a steep discount to Mohawk's own valuation of 1.23 times sales.

Mohawk advises that it expects to close the purchase in Q2 2013 and believes Spano will be "slightly accretive" to its profits in the first full year post-merger.

Mohawk shares closed up 0.3% Monday at $102.77.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2220011, ~/Articles/ArticleHandler.aspx, 8/31/2016 5:43:57 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,400.88 -53.42 -0.29%
S&P 500 2,170.95 -5.17 -0.24%
NASD 5,213.22 -9.77 -0.19%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/31/2016 4:02 PM
MHK $212.78 Up +1.09 +0.51%
Mohawk Industries CAPS Rating: **