The deal is currently under analysis by antitrust authorities.
Mohawk Foreign Aquisitions S.À R.L. Luxembourg has acquired Advent KAI Luxembourg Holding S.À R.L. and companies KAI Ceramics SRL and Progress Ceramics SRL in Romania. Mohawk Foreign Aquisitions S.À R.L. Luxembourg is part of Mohawk Group, which sells ceramic tiles in Romania, the Competition Council said in a statement Wednesday.
The acquired company is part of KAI Group, which sells ceramic tiles in Romania through KAI Ceramics and Progress Ceramics. Kai Group is owned by U.S. investment fund Advent. KAI owns two factories in Bulgaria, with an output capacity of over 20 million square meters of tiles a year.
According to the Bulgarian media, Advent KAI Luxembourg Holding owns 100% of Kai Group and Mohawk paid EUR195 million for the Bulgarian company, which had a consolidate turnover of EUR80 million in 2014.
Kai’s main competitor on the Romanian ceramic tiles market is Austria’s Lasselsberger, which has a factory in Cluj-Napoca.