Visionary Sleep Acquires 3 Restonic Licensees
Furniture World News Desk on
1/9/2017
Bob Sherman, CEO of Visionary Sleep
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.
“Bob and Barbara’s heritage and natural understanding of the mattress industry will be a dynamic asset for the Restonic brand,” said Ron Passaglia, CEO and President of Restonic Mattress Corporation. “Their passion for excellence will be a great benefit for our Restonic team, retailers and today’s consumers. Our entire team is excited about the future and working together to increase the value of Restonic in today’s market place.”
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.”
To speak with Ron Passaglia, please contact Julia Rosien at 519-496-5797 or by email:
julia@restonic.com. Plan to visit Restonic at Las Vegas Market, January 22-26, 2017, Showroom B-926.
More about Restonic: Restonic is guided by the principle that getting a healthy night’s sleep is a right, not a privilege: this means that every Restonic mattress is crafted with better quality materials and greater attention to detail than comparably priced mattresses from competitive brands. Restonic Mattress Corporation is a leading international bedding company with manufacturing facilities throughout the world, including North America, the Far East, Europe, India, Brazil, Middle East and South Africa.