Beaulieu exits hard surface, LD Brinkman returns
“Subject to financing and a definitive agreement, a transaction has been reached” said Ralph Boe, President of Beaulieu Residential. “We are of the opinion that this is in the best interests of all parties. It will allow Beaulieu to focus on our core carpet business, and put hard surface distribution back in the hands of the people that built that business before.”
This announcement comes on the heels of two other moves which saw Beaulieu announce the divestiture of its rug business to Springs Industries, and part of its fiber production to Shaw Industries. “The combination of the three moves will significantly improve our financial situation and allow Beaulieu to invest all of it’s time and resources growing and refining its soft surface business” continued Boe.
The transaction also marks the return to the industry of Tom Karol and Levon Ezell. Both are recognized for building the former LD Brinkman into the largest flooring distributor in the country, prior to it’s acquisition by Beaulieu in 1999. In addition, Eddie Lesok will be part of the management. He has over 20 years experience as a senior executive in manufacturing and distribution of floor covering products. Other senior flooring and distribution executives will be part of the well-positioned company.
“With the recommitment of our suppliers and customers, and with some significant investment, we can rebuild this business,” said Levon Ezell. We will work on winning back customers with the service we were always known for, and add major new initiatives in vinyl, carpet, tools and sundries. The carpet production in Oklahoma will provide the industry with a new offering as well. I think the market has missed LD Brinkman and we do not intend to disappoint them, commented Levon Ezell.
While Beaulieu is returning the carpet operations in Oklahoma it is not transferring the Hollytex name. “The Hollytex line is now a key part of our offering. It is not possible to separate this from Beaulieu” said Boe. Instead Brinkman will market its new line of carpet under the Columbus name.