With Wednesday morning’s announcement of Engineered Floors’ plans to buy “substantially all of the operating assets of Beaulieu Group LLC,” an industry insider said that in less than a decade Engineered Floors has entrenched itself clearly in the “big three.”
Ken Ryan, senior editor with Floor Covering News, said while Shaw Industries and Mohawk Industries are still at the top, Dalton-based Engineered Floors is now on their heels.
“It really is amazing how Engineered Floors has risen since 2009 to be such a major player in such a short time,” Ryan said. “Now, to talk about the big three, it is Shaw, Mohawk and Engineered Floors, and there is now no doubt about that.”
Engineered Floors, founded by Robert E. “Bob” Shaw — who was the co-founder and longtime head of Shaw Industries leading up to its sale to Warren Buffett’s Berkshire Hathaway in 2001 — said it had “reached a letter of intent agreement in principle to purchase substantially all of the operating assets of Beaulieu Group LLC,” which filed for bankruptcy in July.
“The transaction will be contingent upon approvals through the bankruptcy court and due diligence processes,” the statement said. “Pending governmental approvals, the transaction is expected to close in the fourth quarter of 2017.”