Springs Industries to acquire Beaulieu's accent rug business; Gainesville operation not affected

FORT MILL, S. C. - Beaulieu Group, LLC and Springs Industries, Inc. today announced they have signed a letter of intent for the sale of Beaulieu&#39;s rug division to Springs. The purchase would include manufacturing and related assets in Dalton, GA., and Stratford, Ontario, Canada.<br> <br> The rug division of Beaulieu manufactures woven area and accent rugs and tufted bath rugs.<br> <br> &#34;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,&#34; said Crandall C. Bowles, Springs chairman and chief executive officer. &#34;Beaulieu is known for its quality rugs, and we look forward to adding these products to our growing array of home fashions.&#34;<br> <br> The purchase by Springs of Beaulieu 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. <br> <br> Springs Industries supplies leading retailers with a complete line of sheets, towels, comforters, window treatments and other coordinated home fashions.

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