Trenton, N.J.—Congoleum Flooring, a U.S. manufacturer of resilient flooring products, announced that it has entered into a definitive agreement for New Congol LLC, a subsidiary of Beaulieu International Group, to acquire the flooring operations of the company and substantially all of its assets.
According to the company, the agreement marks a significant step toward securing the Congoleum legacy and positioning its brand for long-term growth under new ownership.
“This agreement represents an exciting new chapter for Congoleum,” said Chris O’Connor, CEO of Congoleum. “Beaulieu International Group shares our values of innovation, quality and customer focus. We are confident that this transaction will ensure the continued success of Congoleum products and provide new opportunities for Congoleum employees, customers and business partners. This is the culmination of a multiyear process to return Congoleum to a highly profitable and market-leading business.”
According to the company, the agreement with Beaulieu follows its successful operating performance since its 2020 restructuring and reflects a strategic decision to align with a global partner capable of investing in the brand’s future. Customers and business partners can expect continuity in product availability and service throughout the transition.
“This acquisition represents a significant step forward in our growth strategy,” added Jean-Baptiste De Ruyck, CEO of Beaulieu. “It reinforces our long-term commitment to the U.S. market and enhances our ability to deliver a wide range of superior flooring solutions that meet evolving customer needs.”
Tom McKay of T.A. McKay & Co., noted, “Chris and his management team have done an exceptional job guiding the company through the market volatility in the aftermath of the pandemic, which is reflected by the company’s financial performance and strong position within the markets it serves.”
Peter Venetis of Paul Frontier Holdings added, “We are grateful to them, and all of their colleagues, for their dedication and hard work over the course of our investment timeframe.”
The proposed transaction includes the transfer of Congoleum intellectual property, manufacturing facilities and product portfolios. The agreement is subject to customary closing conditions, with both parties working toward a smooth and timely completion.