In its third acquisition in as many months, Mohawk Industries agreed Monday to buy the Belgium panel board maker Spano Invest NV for $168 million.

The European foray comes just a month after Mohawk closed on its biggest deal ever — the $1.5 billion purchase of the Italian tile maker, the Marazzi Group.

Mohawk, the world's biggest floorcovering company, said buying the chip and melamine board producer in Belgium will help supply its growing laminate floor business, including the pending $150 million purchase of Pergo that Mohawk announced three months ago.

Investors and rating agencies greeted the latest acquisition favorably on Monday, pushing up Mohawk's stock by 30 cents a share to $102.77. Monday's closing price for Mohawk surpassed the company's previous stock peak reached in May 2007.

Shares of Mohawk have doubled in the past 14 months as the housing has rebounded and Mohawk has broadened its carpet business into more hard surface flooring.

Mohawk is second in carpet shipments to the Dalton, Ga.-based Shaw Industries, but Mohawk is the world's biggest floorcovering company with growing sales in both hard and soft surfaces.