Beaulieu to sell its accent rug business
Beaulieu¿s rug division manufactures woven area and accent rugs, and tufted bath rugs.
¿Adding Beaulieu rugs will enable Springs to expand into a new product line and fits our strategy of offering fashionable products for every room in the home,¿ said Crandall C. Bowles, Springs chairman and CEO. ¿Beaulieu is known for its quality rugs, and we look forward to adding these products to our growing array of home fashions.¿ The purchase has received federal antitrust clearance in the United States and is also subject to antitrust approval in Canada. The transaction is 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. The company¿s major brands include Wamsutta, Springmaid, Regal, Graber, Bali, Nanik, and Dundee. Springs also markets bed and bath products for institutional and hospitality customers, home sewing fabrics, and baby bedding and baby apparel products.