Mattress Firm Holding acquires Rival Sleep Train

Mattress Firm Holding acquires Rival Sleep Train

Mattress Firm Holding acquires Rival Sleep Train

One of the big sellers of Serta and Sealy mattresses Mattress Firm Holding Corporation has agreed to acquire the Sleep Train chain, West Coast rival, for about $425 million.

“The acquisition of Sleep Train will establish Mattress Firm as the first border to border, coast to coast multibrand mattress specialty retailer in the United States,” said R. Stephen Stagner, CEO of Mattress Firm.

Sleep Train’s chief executive Dale Carlsen, and Rob Killgore, CFO of Sleep Train, will continue in new roles at the combined company.

“Since 1985, Sleep Train has provided our customers with a good night’s sleep and been a strong partner in our communities,” Mr. Carlsen said in a statement.

In 2010, Sleep Train announced an employee stock ownership plan to receive equitz in the company.

“Today’s announcement represents the hard work of the Sleep Train employee owners who now together with their Mattress Firm peers will move to transform the bedding retail industry,” Mr. Carlsen said.

Mattress Firm’s legal advisor was Barclays and Norton Rose Fulbright provided legal advice. Sleep Train’s legal advisor was Shartsis Friese and Sleept Train employee stock ownership plan was provided by Prairie Capital Advisors.

Mr. Stakebay says:

This deal stabilizes position as the biggest mattress retailer in the country and add to Mattress Firm holdings with more than 1500 stores across 36 states. The combined company, preliminary revenue is expected to approach 2 billion a year.

President and CEO of MFH  Corp…….. R. Stephen Stanger……(2010-present)….$ 1 346 686 (2013)

CEO of Sleep Train………………………….Dale R. Carlsen……..(1985-present)

MATTRESS FIRM HOLDING CORP.

SLEEP TRAIN

Revenue

$ 1.216 billion (2013)

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Operating income

$ 96.946 million (2013)

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Profit

$ 52.924 million (2013)

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Total assets

$ 784.63 million (2013)

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Total Equity

$ 328.49 million (2013)

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Employees

3861(2013)

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