Beaulieu Group LLC has signed a letter of intent to sell its rug division to Springs Industries Inc. The purchase would include manufacturing and related assets in Dalton, Ga. and Stratford, Ontario, Canada.
Beaulieu's rug division manufactures woven area and accent rugs and tufted bath rugs.
The purchase has received federal antitrust clearance in the United States and is also subject to antitrust approval in Canada. The transaction was expected to close in February. The purchase price was not disclosed.
Springs Industries is a supplier of sheets, towels, comforters, window treatments, and other coordinated home fashions.