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Springs Acquires Beaulieu Business

SPRINGS ACQUIRES BEAULIEU BUSINESSFort Mill, S.C.-based Springs Industries Inc. has acquired the Rug Division of Beaulieu Group LLC, Dalton, Ga. The Rug Division manufactures woven area and accent rugs, as well as tufted bath rugs.The purchase includes manufacturing and related assets in Dalton and in Ontario. The acquisition has received federal antitrust clearance in the United States and also is subject to antitrust approval in Canada.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.March 2002