Floorscape to acquire Bremworth in strategic deal

Thu, 02 Oct 2025

Bremworth has announced a scheme implementation agreement with Floorscape, a subsidiary of Mohawk Industries, for its acquisition.

Under the agreement, Floorscape will acquire 100% of Bremworth's shares, with the total consideration estimated to be in the range of $1.05 to $1.15 per share.

This represents a premium of up to 135% and 85% to Bremworth's share price prior to the strategic review and its most recent closing price, respectively.

The scheme is conditional on shareholder and regulatory approvals, as well as the independent advisor's conclusion.

Bremworth's board has unanimously recommended that shareholders vote in favour of the scheme.

The acquisition is expected to provide strategic benefits for New Zealand manufacturing and the wool industry.

Bremworth anticipates distributing between $21 million and $28m of excess cash to shareholders prior to the scheme's implementation.

The target completion date for the scheme is in the first half of 2026.

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