The Commerce Commission said it was not convinced at this stage a takeover of Bremworth Carpets by US-based Mohawk Industries would not reduce competition. PHOTO: SUPPLIEDThe Commerce Commission has competition concerns about a takeover that would bring the country’s two biggest carpet manufacturers under a single owner.The regulator said it was not convinced at this stage that a takeover of Bremworth Carpets by US-based Mohawk Industries, which owns Godfrey Hirst and Feltex, would not reduce competition. Bremworth’s board agreed in October to a takeover by Mohawk Industries, for between $70 million and $77m, through an agreed scheme of arrangement, which requires a lower level of shareholder approval. It followed the launch of a strategic review in February, and the ousting of directors and the chief executive in a boardroom coup this year. At the time, Bremworth chairman Rob Hewett said the buyout agreement was the best outcome for shareholders after it looked at several potential buyers, and was unanimously backed by the board.

Source: Otago Daily Times December 26, 2025 02:41 UTC