Mattress Firm Enters Nevada with Acquisition of 15-Store Bedtime Mattress Co.

Furniture World Magazine

Mattress Firm, one of the nation’s leading mattress retailers, announced that it has signed a Letter of Intent to acquire Bedtime Mattress Co., a Las Vegas-based mattress retailer which operates two retail brands, Bedtime and Mattress Direct. Terms of the acquisition, which is expected to close within 45 days subject to the satisfactory completion of due diligence, were not disclosed. The planned acquisition of the 15-location chain will mark Mattress Firm’s entry into the state of Nevada and make it the largest mattress retailer in the greater Las Vegas area. The acquisition will expand Houston-based Mattress Firm’s total store count nationwide to nearly 370 stores in 33 markets across 20 states. “This acquisition allows Mattress Firm to enter the fast-growing Las Vegas market and is another step in our overall expansion strategy that includes both organic and acquisition growth,” said Gary Fazio, CEO of Mattress Firm. “Bedtime and Mattress Direct have developed a solid reputation and loyal customer following in Las Vegas, and Mattress Firm is committed to carrying on this tradition. At the same time, we will bring our unique retail experience, sleep expertise and the broadest selection of products and brands in the mattress industry to create a unique destination for consumers.” Both Bedtime and Mattress Direct locations are similar to Mattress Firm stores, averaging 3,000-4,000 square feet and located throughout the greater Las Vegas Area in both strip centers and free-standing locations. Upon completion of the acquisition, Bedtime and Mattress Direct locations will be re-branded as Mattress Firm stores and adopt its expanded product selection, including brands from the nation’s top manufacturers, signature store format and Red Carpet delivery service over the coming months. This announcement comes on the heels of Mattress Firm’s announcement two weeks ago that it has been acquired by Boston-based private equity firm, J.W. Childs Associates from majority owner Sun Capital Partners in an effort to grow the company to become a nationwide specialty retail mattress brand. About Mattress Firm Houston-based Mattress Firm (www.mattressfirm.com) is America’s preferred specialty mattress company and the nation’s largest specialty retailer of top-of-the-line Sealy products. Founded in 1986, Mattress Firm’s knowledgeable sales staff, broad product offering and competitive prices have fueled the company’s growth to over 350 stores in 32 markets.