Business Services Industry
Industry Analyst Says Mohawk's Tile Maker Acquisition Makes It Even with Shaw.
Knight Ridder/Tribune Business News, November, 2001
By Bob Gary Jr., Chattanooga Times/Free Press Knight Ridder/Tribune Business News
Nov. 22--A California-based carpet industry analyst said Wednesday that Mohawk Industries' acquisition of Dal-Tile International "changes the industry."
Gregg Yorkison, a partner in Los Angeles-based CYG Investment Banking, said the Calhoun, Ga.-based carpet producer is now "a complete floor covering entity" after its $1.7 billion buyout of the nation's biggest ceramic tile maker. The deal also makes Mohawk, which had revenues of $3.3 billion last year, one-third bigger.
"(Mohawk) closes the gap with its rival, Shaw (Industries) in terms of being the biggest floor covering company in the world," Mr. Yorkison said. "They're about the same size now."
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