Laminate flooring maker Pergo, battered by the housing downturn, is being bought by a competitor, Mohawk Industries.
The $150 million cash deal, which requires regulatory approval, is expected to close within five months. Pergo is based in Sweden but has its North American headquarters in Raleigh and a manufacturing center in Garner.
It's not clear if Mohawk plans to continue the Pergo flooring line or maintain operations in North Carolina. Mohawk's CFO, Frank Boykin, did not return a phone call.
"The combination of the entities offers significant opportunities to optimize the assets of both companies while enhancing the design and product performance of both brands," Mohawk said in a statement.
Pergo employed 175 people a year ago but additional information was not available Monday. Pergo CFO Franz Wiest said all media queries are being forwarded to Pergo's office in Germany.