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Simmons Bedding Company To Acquire Comfor-Pedic® Line Of Memory Foam Products

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Simmons Bedding Company announced that it has signed a purchase agreement to acquire the Comfor-Pedic® line of memory foam mattresses and pillows from Comfor Products, Inc. The acquisition, which is expected to close in the next 30 days, will merge seamlessly the most advanced memory foam technology with the strength of the Simmons® brand, giving consumers and retailers a superior product from a company they know and trust. The acquisition of the Comfor-Pedic line positions Simmons squarely in the middle of a growing market and rounds out the company’s specialty sleep portfolio, which is anchored currently by the Simmons® Natural CareTM line of latex mattresses. “Manufacturing and selling foam mattresses has its own unique set of characteristics, which is why we’re excited about the addition of the Comfor-Pedic team’s expertise to our capabilities set,” said Charlie Eitel, Simmons chairman and chief executive officer. “We look forward to leveraging Comfor-Pedic’s more than 60 years of foam product innovation across our visco and latex offerings.” Comfor-Pedic CEO Scott Smalling said, “Simmons’ rich history of innovation and its strong corporate culture reflect our company’s values, which make this union a natural fit. Comfor-Pedic’s advanced memory foam technology and other first-to-market innovations, combined with Simmons’ iconic brand and retail distribution network, will give consumers and retailers the best of both worlds. We look forward to going to market as a unified force.” Simmons’ market research has shown that 60 percent of consumers are aware of the memory foam category, with half of those considering a purchase. Research also revealed that there is little brand loyalty to existing players in memory foam,1 opening the door for an experienced, committed competitor and the opportunity for growth in the category. “Consumer interest in foam mattresses is steadily growing, making it a viable market with room for multiple players,” said Eitel. Butch Webster, 30-year industry veteran and Comfor-Pedic executive vice president, predicts that the Comfor-Pedic line will give Simmons a decisive edge in this market. “There is incredible potential in the market for a memory foam bed with superior performance characteristics, which is why I joined the company in 2005 after seeing what product features Scott and his team had designed,” said Webster. “With that in mind, I also knew that a match between Comfor-Pedic’s foam expertise and the manufacturing and distribution strengths of an industry leader would be incredibly powerful. I believe that we have found the perfect partner in Simmons to take this category to the next level.” NEXT GENERATION OF MEMORY FOAM Memory foam products have become popular largely because they conform to the body and reduce pressure points. However, complaints often associated with traditional memory foam include its inability to dissipate heat, leaving sleepers hot and uncomfortable, or that its sleep surface is inconsistent, feeling too hard in a cool room and too soft in a warm room. The Comfor-Pedic product line is made with the next generation of memory foam, which provides the perfect combination of soft comfort and firm support to conform to one’s body. Comfor-Pedic dissipates heat to maintain a cool sleep surface and responds quickly to move with the body’s contours, preventing the “quicksand” feeling associated with traditional memory foam. In addition, Comfor-Pedic provides consistent comfort, eliminating the need for a break-in period, and is backed by a 25-year warranty. The new product line, which will be called ComforPedic® by SimmonsTM, features five beds with a suggested retail price of $1,899–$6,999 and various pillow styles. The ComforPedic product line will be shown alongside the Natural Care product line at the Las Vegas Furniture Market, which will be held July 30–August 3. For more information, visit www.simmons.com. About Simmons Bedding Company Atlanta-based Simmons Company, through its indirect subsidiary Simmons Bedding Company, is one of the world's largest mattress manufacturers, manufacturing and marketing a broad range of products under brands including Beautyrest®, Beautyrest BlackTM, Natural CareTM, BackCare®, Beautyrest BeginningsTM, and Deep Sleep®. Simmons Bedding Company operates 21 conventional bedding manufacturing facilities and two juvenile bedding manufacturing facilities across the United States, Canada and Puerto Rico. Simmons also serves as a key supplier of beds to many of the world’s leading hotel groups and resort properties. Simmons is committed to developing superior mattresses and promoting a higher quality sleep for consumers around the world. For more information, visit the Company's website at www.simmons.com. About Comfor Products Comfor Products, Inc. was founded in 1946 as Industrial Rubber & Supply, Inc. In 2006, the company changed its name to Comfor Products to reflect its emphasis on the foam mattress product category. Drawing on Comfor Products’ more than 60 years of foam expertise in healthcare and aviation, Comfor-Pedic products utilize patented innovations that position the company at the forefront of the visco industry. Headquartered in Seattle, Comfor Products also operates manufacturing and back-office facilities in Portland, Oregon and High Point, North Carolina. For more information, visit the Company’s website at www.comfor-pedic.com.

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