Mattress Firm to Acquire Nine-Store St. Louis Franchise Operation

Furniture World Magazine

Mattress Firm, one of the nation’s leading mattress retailers, announced that it has signed a Letter of Intent to acquire its nine franchise stores in St. Louis from the current franchise owner, Yotes, Inc. Terms of the deal, which is currently in the due diligence phase, were not disclosed. The planned acquisition of the St. Louis franchise will bring Mattress Firm’s corporate-owned store count to 339 in 26 markets and will bring its franchise-owned store count to 45 in 9 markets. Yotes, Inc., a Mattress Firm partner for 13 years, also owns and operates Mattress Firm franchise stores in the Denver, Colo. and Wichita, Kan. markets and will maintain ownership of both. “St. Louis represents an attractive market for us to enter from a corporate owned perspective and we’re pleased to have arrived at agreeable terms with our partner there,” said Gary Fazio, CEO of Mattress Firm. “We look forward to building on the brand equity that has been established in St. Louis and continuing to serve consumers there with the same high level of customer service and broad product selection that Mattress Firm is known for.” Upon completion of the acquisition, Mattress Firm will assume ownership and operations of the nine stores which already feature Mattress Firm signage and branding, expanded product selection and signature store format. 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 more than 375 stores in 35 markets.