Mohawk Industries announces the acquisition of Elizabeth Revestimentos in Brazil

Calhoun, Georgia, 03 from November 2022

A Mohawk Industries, Inc. (NYSE: MHK) announced today that it has entered into an agreement to purchase Elizabeth Coatings, based in Brazil. When combined with Eliane, which became part of Mohawk in 2018, the company will be the largest producer of ceramic tiles by revenue in Brazil, which is the second largest ceramic market in the world. Elizabeth produces porcelain tiles and ceramic tiles and sells mainly in the retail channels., Home Centers and Builders.

Elizabeth was founded in 1984 and has four manufacturing units strategically located to optimize distribution. Along with Eliane's production strengths, Elizabeth's advanced manufacturing assets will enhance the product offering, operational efficiencies and service capabilities of the combined business. The transaction is expected to close in the first quarter of 2023 and is subject to customary government approvals and closing conditions.

About Mohawk Industries

Mohawk Industries is the leading global flooring manufacturer creating products to enhance residential and commercial spaces around the world.. Mohawk's vertically integrated manufacturing and distribution processes provide competitive advantages in carpet production, carpets, ceramic coatings, laminated, madeira, stone and vinyl floors. Our industry-leading innovation has spawned products and technologies that differentiate our brands in the marketplace and meet all refurbishment and new build requirements.. Our brands are among the most recognized in the industry and include American Olean, Daltile, Durkan, Eliane, Feltex, Godfrey Hirst, IVC, Karastan, Marazzi, Mohawk, Mohawk Group, Pergo, Quick-Step e Unilin. During the last decade, Mohawk turned its American rug maker business into the world's largest flooring company.

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There can be no assurance that forward-looking statements will be accurate because they are based on many assumptions., involving risks and uncertainties. The following important factors may cause future results to differ: changes in economic or industry conditions; competition; freight inflation and deflation, raw material prices and other input costs; inflation and deflation in consumer markets; currency fluctuations; energy supply and costs; time and level of capital expenditure; timing and implementation of price increases for the Company's products; impairment charges; acquisition integration; international operations; introduction of new products; rationalization of operations; taxes and tax reform, product and other claims; litigation; the risks and uncertainties related to the COVID-19 pandemic; regulatory and policy changes in the jurisdictions in which the company does business and other risks identified in Mohawk’s SEC reports and public announcements.