New York-listed Mohawk Industries to buy Australasian carpetmaker Godfrey Hirst for undisclosed amount

Mon, 20 Nov 2017

By Paul McBeth Nov. 21 (BusinessDesk) - Global flooring manufacturer Mohawk Industries has agreed to buy Australasian carpetmaker Godfrey Hirst, known domestically for acquiring failed rival Feltex more than a decade ago. No price was disclosed in the transaction, which is expected to be completed in the first half of next year, although the Australian Financial Review reported the deal was said to be worth A$500 million. Godfrey Hirst's New Zealand division more than doubled net profit to $11 million in the year ended June 30, 2016 on a...

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