Mattress Firm Closes on Sleep Experts Purchase
April 4, 2014,
HOUSTON-Mattress Firm has completed its acquisition of the outstanding partnership interests in Sleep Experts Partners.
With this purchase, according to a Mattress Firm statement, the company expects to operate an additional 55 stores in the Dallas and Austin, Texas, markets, already two of the company's core markets. The acquisition is also expected to advance Mattress Firm's relative market-share strategy and drive long-term value for its shareholders. The statement added that Mattress Firm will further evaluate Sleep Experts' operations in the coming months before determining a branding strategy for the chain.
The acquisition was one of three announced by Mattress Firm in early March, which altogether added 93 stores to its base. The other two purchases were Mattress Firm franchisee Yotes, which operates stores under the Mattress Firm brand in Colorado and Kansas, and the Virginia retail operations of Southern Max, another Mattress Firm franchisee. Altogether, the three acquisitions cost Mattress Firm about $80.5 million.