Therapedic, Hollandia in License Deal
May 12, 2010,
PRINCETON, N.J.-Therapedic and Hollandia have formed an alliance whereby Hollandia will own the Therapedic license for Israel and Cyprus.
As part of the agreement, Hollandia said it plans to open Therapedic retail stores in cities in Israel over the next year. Both companies will also create a joint research and development team for products leveraging Hollandia's technology that would be sold throughout the world.
In a joint statement from the two companies, Gerry Borreggine, Therapedic's president, credited Hollandia's understanding of the luxury-mattress market and its ability to market its products based on providing a good night's sleep. Avi Barssessat, chief executive officer of Hollandia, said he expects the Therapedic brand to resonate well in Israel, where consumers "love American brands."