Mattress Firm And Serta Simmons Bedding Expand Strategic Partnership
- Aligns Number One U.S. Mattress Retailer with Number One U.S. Mattress Manufacturer
- Mattress Firm and Serta Simmons to Co-invest $100 million in Incremental Advertising
- Serta Simmons Has Capacity to Immediately Fulfill Mattress Firm's Requirements
- New Products Will Offer Consumers More Choice and Value Across All Segments
13 Mar, 2017, 05:00 ET
HOUSTON and ATLANTA, March 13, 2017 /PRNewswire/ -- Mattress Firm, Inc., the nation's largest specialty bedding retailer, and Serta Simmons Bedding, LLC ("SSB"), the largest bedding manufacturer in the United States, today jointly announced that the companies have entered into an initial five-year strategic partnership agreement.
SSB is the largest bedding manufacturer in the United States, with a network of more than 30 production facilities. As SSB previously announced, the company continues to expand its U.S. capacity with strategically located new sites, and is ready to meet Mattress Firm's product requirements in full.
To kick-off this multi-year partnership, Mattress Firm and SSB will launch new and exclusive products with an unprecedented incremental $100 million marketing investment over the next eighteen months, to drive consumer awareness and interest. This joint advertising investment is in addition to Mattress Firm's annual advertising expenditure, and builds on significant investments that SSB is also making in driving awareness for its two iconic brands, Serta® and Beautyrest®.
The partnership builds on SSB's success in both the memory foam and hybrid mattress product categories with Mattress Firm. In the last year, SSB products have become the fastest growing product lines for the retailer. In the near future, Mattress Firm will offer new and exclusive collections from Serta and Beautyrest. These products are expected to deliver compelling value for the consumer, incorporating advanced features and innovations.
"We are excited to announce the strategic expansion of our long-standing partnership with Serta Simmons Bedding," said Ken Murphy, president and CEO of Mattress Firm. "With consumers more focused on sleep than ever before, they look to Mattress Firm as the leading specialty mattress retailer to offer innovative products at a compelling value. As a result of our recent partnership changes, we now have more flexibility than ever before to bring exciting and innovative products in all price bands to our customers. With the consolidation of all of our stores under the Mattress Firm banner nationally nearly complete, we can now focus fully on improving value for all consumers, while driving the business forward."
"We strongly value our partnership with Mattress Firm and are excited about the additional marketing investment which we believe will drive further consumer demand and expand our leadership in the marketplace," said Michael Traub, CEO of Serta Simmons Bedding. "With Serta and Beautyrest, we have two of the strongest sleep brands in the industry and we look forward to expanding our product presence in Mattress Firm stores this spring."
About Mattress Firm
Founded in 1986, Houston-based Mattress Firm is the nation's first and only border-to-border, coast-to-coast specialty bedding retailer, with more than 3,500 stores across 49 states. In 2016, Mattress Firm was acquired by Steinhoff International Holdings. Mattress Firm offers a broad selection of mattresses and bedding accessories from leading manufacturers, including Serta, Simmons, Dream Bed, and Hampton & Rhodes.
About Serta Simmons Bedding, LLC
Serta Simmons Bedding, LLC ("SSB") owns and manages two of the largest bedding brands in the mattress industry – National Bedding Company L.L.C. (the largest licensee and majority shareholder of Serta, Inc.) and Simmons Bedding Company, LLC. SSB is based in Atlanta and operates 32 manufacturing plants in the United States, six in Canada and one in Puerto Rico. Its subsidiary, National Bedding Company L.L.C., is based in suburban Chicago and markets a broad range of products under the Serta® brand, including Perfect Sleeper®, iComfort®, Sertapedic®, Bellagio® at Home® and a portfolio of licensed products. In addition to National Bedding Company L.L.C., Serta, Inc. has five other independent licensees in the United States that manufacture and market Serta-branded products. SSB's other subsidiary, Simmons Bedding Company, LLC, is based in Atlanta and markets a broad range of products including Beautyrest®, Beautyrest Black®, Beautyrest® Sleeptracker® and BeautySleep®. Both subsidiaries also serve as key suppliers of beds to many of the world's leading hotel groups and resort properties.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "project," "seek," "plan," "intend," "believe," "will," "may," "could," "continue," "likely," "should," and other words. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Any forward-looking statement made by SSB or Mattress Firm in this press release speaks only as of the date on which it is made. Neither SSB nor Mattress Firm undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE Mattress Firm, Inc.
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