Corsicana's Sale to Blue Torch Capital Paving the Way for Mattress Manufacturer to Emerge from Chapter 11
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Corsicana Mattress Company has been acquired by Blue Torch Finance through a court-supervised auction under section 363 of the U.S. Bankruptcy Code. The court, in the Northern District of Texas in Fort Worth, approved the sale on Friday, making Blue Torch the company's sole owner. Prior to the sale, it was a majority owner in partnership with Long Point Capital and KKR.
"The sale is complete, and the new ownership enables Corsicana to emerge from Chapter 11 as a stronger company with the ability to build on its long-standing foundation as the nation's largest private retail mattress manufacturer," said Corsicana CEO Eric Rhea. "We've restructured our company and strategically defined our footprint within key distribution channels to serve our customers better, so we can deliver high-quality sleep products coast-to-coast, handcrafted in the USA for the best possible price—enabling the Corsicana business to continue for another 50 years as the premier value-priced mattress partner."
"We sincerely appreciate our loyal customer base and strategic suppliers," said Rhea. "Corsicana remains highly focused on providing our customers with exceptional service and products. We are thankful for the continued hard work and devotion of our employees and their focus on making Corsicana the most efficient and effective mattress supplier in the industry."
Corsicana filed for Chapter 11 on June 25th. For more information about Corsicana's Chapter 11 case, visit www.donlinrecano.com/corsicana.
About Corsicana Mattress
Founded in 1971 in Corsicana, Texas, Corsicana Mattress operates nine factories across the country and has become one of the mattress industry's largest manufacturers. The company offers a full range of products that feature the latest in sleep technology, including innerspring, memory foam and hybrid models. The company also has a mattress-in-a-box line that simplifies delivery. Corsicana leverages its national manufacturing presence to provide industry-leading quality, value, delivery, and customer service. Its mission is to provide hard-working Americans with innovative and affordable sleep products that improve their quality of life.