DALTON, Ga. — Engineered Floors and the Beaulieu Group have entered into an asset purchase agreement that would see Engineered Floors acquire “substantially all of the operating assets of Beaulieu,” according to a press release.

The companies announced last month they had agreed to a letter of intent.

“They have now concluded those negotiations and executed a definitive agreement,” according to the press release from Engineered Floors.

Beaulieu filed for bankruptcy in July and is under Chapter 11 protection. It will seek court approval of the transaction, which is expected to close in early November, according to the press release. Engineered Floors plans to operate the assets it purchases.

“This will be good for both our business and the community,” said Robert E. Shaw, founder and chairman and CEO of Engineered Floors.

Engineered Floors currently employs some 3,000 people. It has a 650,000-square-foot facility in Calhoun and an 800,000-square-foot facility on South Dug Gap Road in Dalton.

Beaulieu is privately owned and manufactures and distributes carpet, engineered hardwood and laminate and luxury vinyl tile (LVT) flooring. Before it filed for bankruptcy, it had some 2,500 employees in 12 locations, mostly in northwest Georgia. Its corporate headquarters are in Dalton, and three plants and a distribution center are in Whitfield County. In August, company officials acknowledged there would be an elimination of 170 positions, primarily in management.

This is the second major local acquisition by Engineered Floors in recent years. In 2015 the company acquired Dalton-based J+J Flooring, which it runs as a separate division.