Houston — This acquisition will add approximately 135 mattress specialty retail stores to the Mattress Firm company-operated store base, primarily in the Chicago and Orlando areas.
Houston — Mattress Firm Holding Corp., a leading specialty retailer of mattresses and accessories in the United States, has entered into an agreement to acquire substantially all of the mattress specialty retail assets and operations of Back to Bed Inc., M World Mattress LLC, MCStores LLC and TBE Orlando LLC, which collectively operate Back to Bed and Bedding Experts retail stores in Illinois, Indiana and Wisconsin and Bedding Experts and Mattress Barn retail stores in Florida.
This acquisition will add approximately 135 mattress specialty retail stores to the Mattress Firm company-operated store base in both new and existing markets, primarily in the Chicago and Orlando metropolitan areas, for an aggregate purchase price of approximately $60 million, subject to customary adjustments. The closing of the acquisition is expected to occur by the end of the third fiscal quarter of 2014.
“We are excited to secure a presence in Chicago, a key strategic market for Mattress Firm, with a strong store base in full operation and to further enhance our position as a top player in the Florida markets,” says Steve Stagner, Mattress Firm president & chief executive officer.
The sellers have been represented in the transaction by Brookwood Associates LLC as investment banking advisor and Kelleher & Buckley LLC as legal advisor.
SOURCE: Mattress Firm Holding Corp.