Colalillo buy creates Simmons Uph. Canada
By Michael J. Knell -- Furniture Today, January 27, 2002
TORONTO — John Colalillo, president of Superstyle Furniture, has acquired the sofa-sleeper line marketed by Simmons Canada and formed a new company called Simmons Upholstery Canada.
Superstyle and its sister companies, Trendline and Braemore Convertibles, have been manufacturing the line for Simmons Canada for the past few years. The deal closed on Jan. 1 and the transfer will be completed by April. Terms were not disclosed.
Mike Stewart, who had been managing the line for Simmons Canada, has been named general manager of the new company, which will operate out of Trendline's office and factory here for the time being.
Stewart will report to Colalillo. Jennifer Wollen, who has been working with Stewart at Simmons Canada, is expected to join the new company on March 1.
"I believe a lot can be done with the Simmons upholstery line," Colalillo said, adding that five new sofa-sleepers were introduced at this month's Canadian Home Furnishings Market. "We will introduce stationary upholstery to the line before the June market in Toronto."
While the two largest retailers of Simmons upholstery are Sears and The Bay, Colalillo believes there is considerable potential in other channels of distribution. "We're looking to expand the line into other areas such as the buying groups," he said.
"We want to focus on our core business, which is bedding," said Terry Pace, president and chief executive officer of Simmons Canada. "We've been working with John for many years and we felt this was a win-win situation and gives him a great opportunity to use the Simmons name and reputation. Superstyle is a well- known name in the industry and we felt they were a good match for us."
The deal doesn't include Simmons Canada's contract division, which primarily supplies the hotel industry. The Mississauga, Ontario-based bedding producer will continue to operate that division, and the new Simmons Upholstery Canada will be its upholstery supplier.
Industry observers believe that upholstery accounted for about 10% of the publicly held Simmons Canada's annual sales. The company's revenue for the first nine months of 2001 was C$93 million.
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