Mohawk wants to buy Bulgarian KAI, also present in Romania

Mohawk Foreign Acquisitions, part of the US group Mohawk Industries, wants to buy the Bulgarian ceramic tiles producer KAI, which is also present on the Romanian market. The transaction amounts to EUR 195 million, reports local Ziarul Financiar. KAI group is active in Romania through the companies KAI Ceramics and Progress Ceramics, according to the Competition Council, which analyzes the transaction. The US investment fund Advent controls the KAI group through the company Advent KAI Luxembourg Holding. KAI recorded sales of EUR 24 million on the local market in 2013. These include the Romanian subsidiary KAI Ceramics’ revenues, as well as the direct sales from Bulgaria to Romania. Kai Ceramics Romania posted a EUR 10 million turnover in 2013. Mohawk group recorded sales of USD 7.8 billion last year. editor@romania-insider.com