Belgian flooring group Beaulieu International Group (BIG) has signed a share purchase agreement with GH Private Equity to sell all shares of its upholstery division Tessutica. The transaction officially closed on 27 November.
BIG said the sale follows a thorough strategic review of its portfolio. While Tessutica focuses on premium upholstery and requires continual investment in infrastructure and product development, BIG noted that these demands risk drawing resources away from its core high-growth businesses. The company said Tessutica is better positioned with an owner whose strategy aligns more closely with its needs.
© Tessutica
The buyer, GH Private Equity, part of H Capital Ventures Group, specialises in acquiring small to mid-sized companies facing operational challenges and in need of financial or strategic turnaround.
All 132 employees (115 in Romania and 17 in Belgium) will transfer with the business under the same employment conditions, and operations will continue uninterrupted at both sites.
In 2024, Tessutica generated €17m in revenue, compared with BIG's total turnover of €2bn. No financial details of the transaction were disclosed.
Source: Furniturenews
