Visionary Sleep Acquires 3 Restonic Licensees
January 9, 2017,
Buffalo, New York – January 2017: A definitive purchase agreement between Alliance Sleep (Buffalo), Jackson Mattress (Fayetteville) and Sleep Products (New Albany) and Bob Sherman, Barbara Bradford, Jay Patel and Laurie Tokarz principals of Visionary Sleep has been finalized. The newly formed Visionary Sleep will operate all three factories under one leadership.
Sherman, an influential leader in the bedding industry, with Sealy and Serta (now Serta Simmons Holdings), is credited with leading Serta to become the top mattress company in the United States. Bradford has substantial contributions to the industry, most recently with Serta as vice president of marketing and merchandising, where she is credited with playing a key role in the development of the iComfort series and several branded product collections, including Trump Home.
Sherman is CEO of the new bedding group, while Barbara is president. Patel, a former Serta executive, will serve as Chief Manufacturing Officer. Tokarz, former president of Alliance Sleep Products in Buffalo, will serve as Chief Sales Officer.
Visionary Sleep will operate independently as Restonic’s largest licensee, tapping into and contributing to the combined buying power of the whole group to strengthen dealer support and market penetration.
“There is consolidation happening at all levels in our industry and this private equity will allow us to strengthen our core base and the Restonic brand,” said Passaglia. “It’s refreshing to receive tremendous support from our retailers and this news has already created a groundswell, which is a win-win situation for all.”
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money