Mattress Warehouse has surpassed 500 stores across the United States following a significant acquisition, according to Furniture Today. The sleep systems retailer added 176 stores to its portfolio, acquiring 73 former Mattress Firm locations and 103 Sleep Outfitters outlets. This expansion follows the multi-billion dollar acquisition of Mattress Firm by Somnigroup International, previously known as Tempur Sealy.
The deal also included seven distribution centres and corporate offices located in Lexington and Kyoto. Mattress Warehouse has not disclosed the financial terms of the acquisition.
For years, the company has expressed its ambition to exceed 500 retail locations. With this acquisition, it now extends its geographic reach from New Hampshire to South Florida, and westward to markets including Chicago and Milwaukee.
Bill Papettas, President and CEO of Mattress Warehouse, called the expansion 'a pivotal moment in our growth story'. The company is reportedly accelerating its expansion by opening multiple stores simultaneously in new markets. Mattress Warehouse plans to drive footfall through opening promotions, a one-year low price guarantee, and its '100 percent comfort promise'.
The acquisition strengthens Mattress Warehouse's market presence significantly, positioning it as a major player in the highly competitive US sleep products sector.
Source: www.moebelmarkt.de