Mattress Firm Deals for Mattress King and BedMart

Mattress FirmHOUSTON-Mattress Firm has reached an agreement to acquire the assets and operations of Mattress Liquidators, which operates Mattress King stores in Colorado and BedMart stores in Arizona.

When closed, the acquisition will add about 75 specialty mattress stores to Mattress Firm's company-operated store base in the Denver, Phoenix and Tucson, Ariz., markets, where the company already has a presence. The deal will cost Mattress Firm about $35 million, "subject to customary adjustments," according to a company statement. The closing, subject to the prior satisfaction of customary closing conditions, is expected to take place by the end of this year's second fiscal quarter, and will be funded by cash reserves and revolver borrowings, as well as a $3.5 million seller note that is payable in quarterly installments over two years, the statement said.

"We believe that the acquisition of the Denver stores will allow us to leap into a strong position in that market, building on the foothold established by the acquisition last month of the formerly franchised Mattress Firm stores in Denver," said Steve Stagner, Mattress Firm's president and CEO. "The additional stores in Phoenix and Tucson will supplement the existing base of quality stores that we currently operate in those markets."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.