Dalton, GA, October 6, 2017-Engineered Floors and Beaulieu Group have entered into an asset purchase agreement for substantially all of the operating assets of Beaulieu. The companies had previously announced that they had agreed to terms in a letter of intent. They have now concluded those negotiations and executed a definitive agreement.
Beaulieu, which is under Chapter 11 bankruptcy protection, will seek court approval of this transaction. The transaction is now expected to close in early November. Engineered Floors plans to operate the assets going forward and to continue to grow the residential and commercial businesses.