Mattress Firm, a retailer of mattresses and bedding accessories, has entered into an agreement to acquire Mattress Liquidators and its Mattress King and BedMart retail stores for $35 million.
With the Mattress Liquidators acquisition, Mattress Firm will own and operate more than 1,475 retail storefronts in 33 states. The sale is expected to close at the end of Mattress Firm's second fiscal quarter.
The deal marks the second major acquisition for Houston-based Mattress Firm. Earlier this year, the retailer inked a deal to take over the assets of Yotes Inc., which operates stores under the Mattress Firm brand in Colorado and Kansas, as well as the Virginia retail operations of Southern Max. Mattress Firm also agreed to acquire 55 Sleep Experts retail stores in Texas for $65 million.
With the acquisition, the company is expanding to major markets where it has a strong retail presence, such as Denver, Phoenix and Tucson, and buying out its competitors.
"We are excited to further expand our position in the Denver, Phoenix and Tucson markets," stated Steve Stagner, Mattress Firm president & CEO. "We believe that the acquisition of the Denver stores will allow us to leap into a strong position in that market."
-See this Mattress Firm press release
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