Engineered Floors completes asset purchase

Home News Engineered Floors completes asset purchase

Dalton, Ga.—Engineered Floors has purchased substantially all of the operating assets of Beaulieu Group. This completes a process that began formally Sept. 20 with a letter of intent.

“We are pleased with the quick approval of the bankruptcy court of our purchase agreement,” said Robert E. Shaw, founder and CEO of Engineered Floors. “We can now move forward building an even stronger floor covering industry in our community.”

Beaulieu of America opened in the mid ‘70s and grew to become the third-largest carpet manufacturer in the United States, with annual sales approaching $1 billion at the start of the recession in 2008. The company then shortened its name to Beaulieu America and broadened its product offerings to include hard surfaces. At the same time, its specified commercial division, Bolyu, began gaining the attention and respect of the architectural and design community.

Engineered Floors is now in the process of determining the integration of Beaulieu America personnel, as well as physical and intellectual property assets and brands for its continued growth. The company will make announcements over the next few months regarding these decisions.

“Right now, we’re focused on minimizing the impact Beaulieu’s bankruptcy and this acquisition has on the people and the community in North Georgia,” said James Lesslie, executive vice president of sales and marketing for Engineered Floors. “We are placing as many former Beaulieu associates as we can and assessing the best use of the various offices and facilities here. We want the floor covering community to emerge from this chapter stronger than ever before.”

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