Sun Mattress, LLC Acquires Mattress Firm, Inc., One of the Country's Largest Bedding Retailers
Ownership Change Positions Specialty Retailer for Continued Growth
TRINITY, N.C., Oct. 21 /PRNewswire/ -- Sun Mattress, LLC, an affiliate of Sun Capital Partners, an investment group based in Boca Raton, Florida, has acquired 100% ownership of Mattress Firm, Inc. (formerly known as Malachi Mattress America, Inc.). Mattress Firm, Inc., which owns, operates, and franchises The Mattress Firm(R) specialty sleep stores in 39 markets, is one of Sealy's largest customers. Mattress Firm, Inc. was acquired from a group of independent private investors, which included Mattress Holdings International LLC, a company affiliated with Sealy and controlled by Bain Capital, Sealy's principal owner. With its new ownership structure, The Mattress Firm will no longer be an affiliate of Sealy, Inc. or Bain Capital. "We are excited that The Mattress Firm has new ownership with the retail experience and the financial resources to drive the continued growth and expansion of one of our largest customers," said Dave McIlquham, President and CEO of Sealy, Inc. "We look forward to continuing our role as their largest, most valued supplier. We will provide our full support to The Mattress Firm's management and new owners as they develop and implement their growth strategies." "This ownership change provides the capital structure we need to continue our momentum to become one of the country's largest and best bedding retailers," said Gary Fazio, Chief Executive Officer of The Mattress Firm. "Although we are completely independent of Sealy, their brands have been an essential part of our past success and will continue to be an important part of our future product assortment," Fazio added. Sun Capital Partners is a leading private investment firm focused on leveraged buyouts of market-leading companies. Since its inception in 1995, Sun Capital has invested in approximately 40 companies with combined sales in excess of $3.5 billion. Recent acquisitions in the Home Furnishings market include Wickes Furniture, Nationwide Warehouse & Storage, and Lexington Home Brands. Sealy is the largest bedding manufacturer in the world. Including its subsidiaries, Sealy has 31 manufacturing plants in the United States, Canada, France, Italy, Brazil, Argentina and Mexico. There are a total of 11 international licensees operating in Australia, Israel, Jamaica, Dominican Republic, Saudi Arabia, Japan, New Zealand, Thailand, South Africa, the Bahamas and the United Kingdom. In addition to its licensees, Sealy has a joint venture in Southeast Asia, India and Korea. Sealy produces and sells a full range of mattresses under the Sealy, Sealy Posturepedic(R), Stearns & Foster and Bassett brand names. Sealy-branded licensed products include: crib mattresses, sheets, pillows, mattress pads and comforters, futons and upholstered furniture. More information on Sealy, Inc., can be accessed at http://www.sealy.com. Make Your Opinion Count - Click Here http://tbutton.prnewswire.com/prn/11690X21386580
SOURCE Sealy, Inc.
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