Beaulieu International has sold Beaulieu Weihai to Yangzhou Haizhong
Beaulieu International Group (B.I.G.) has sold one of its Chinese subsidiaries, Beaulieu Technical Textiles (Weihai) Co. Limited (Beaulieu Weihai), to Yangzhou HaiZhong Fabric Co., Ltd. (Yangzhou Haizhong).
Beaulieu Weihai is one of B.I.G.’s major subsidiaries in China. It manufactures and markets woven technical textiles, focusing on carpet backing, artificial grass backing and agro-textile products. Its products are sold to both overseas and domestic markets. Beaulieu is one of the best-known brands in this segment and is highly regarded within the industry due to the high quality of its products. Beaulieu Weihai is able to produce up to 63 million square meters of technical fabrics per year with nearly 100 full-time employees.
Founded in 2016, Yangzhou Haizhong is a fast-growing technical textile company in China, focusing on the manufacturing and sale of woven carpet backing, artificial grass backing, agro-textiles and geo-textiles. Its products are sold domestically and overseas, in over 20 countries. Yangzhou Haizhong is one of Beaulieu Technical Weihai’s major competitors in China. Post transaction, Yangzhou Haizhong will continue to operate Beaulieu Weihai’s business under Haizhong’s own brand. By acquiring Beaulieu Weihai, Yangzhou Haizhong further consolidates the production capacity of the industry, expands its presence in oversea markets, and thus becomes one of the leading global players in this segment.
B.I.G. is a leading global specialist in flooring and material solutions. Headquartered in Belgium, the group has 29 production facilities around the world, and serves customers in 140 countries. B.I.G. employs 4,900 people worldwide and reported a turnover of US$2.5 billion in 2021. It operates in multiple sectors. Through this transaction, B.I.G. exits this non-core business, and the group refocuses its strategic resources to other core areas.
Oaklins’ team in Shanghai assisted B.I.G. to complete this divestiture through a global bidding process, leading vendor due diligence, buyer identification, valuation guidance, different stages of terms negotiations and closing. Oaklins’ teams in other countries also assisted the transaction by identifying potential buyers and communication.
Head of Strategy for Asia region, Beaulieu International Group