Mexico City, February 17, 2023.
On February 16, 2009, the Mexican Antitrust Commission ("COFECE") authorized the acquisition of Manufacturas Vitromex S.A. de C.V. ("Vitromex") by Mohawk Industries Inc. ("Mohawk"). Both companies are recognized manufacturers of ceramic and porcelain tile for commercial and residential use in Mexico.
After a thorough analysis of the case, COFECE concluded that the transaction will not pose a risk to competition. With the acquisition of Vitromex, Mohawk complements its portfolio and strengthens its presence in the Mexican market.
Vitromex is one of the main players in Mexico and has presence in the United States market. Mohawk is a public company listed on the New York Stock Exchange with operations in 19 countries and a commercial presence in more than 160 countries; in 2022, Mohawk reported sales of approximately US$11.7 billion.
The antitrust team of Basham, Ringe y Correa, S.C. acted as counsel to Mohawk in the authorization process before COFECE, working together with the company and demonstrating the potential positive effects on competition and free competition processes that the operation implies.
Partner: Amilcar Peredo
Senior Associate: León Jiménez
Junior Associate: Juan María López Cortina