Symbol Mattress closes deal to acquire Fraenkel
July 8, 2013,
Symbol, based here, said earlier this year it had agreed to purchase Fraenkel, based in Olive Branch, Miss. The asset purchase deal closed earlier this month, officials said.
Clevenger said Symbol has retained the entire Englander sales team at the plant.
Brian Akchin, formerly CEO of Fraenkel, will join Symbol as vice president of sales and marketing for Englander. "His leadership and experience with the Englander brand will be critical as we move the brand forward," Clevenger said.
Symbol will introduce new products under Fraenkel's USA Choice brand that will provide strong value and quality from $299 to $599, Clevenger said.
Doug Wilcox, Symbol's Pennsylvania plant manager, will transfer to Olive Branch to head up the new plant for Symbol. Efrain Ortiz will replace Wilcox as manager of the Pennsylvania plant.
With the acquisition, Symbol now has seven bedding factories with a manufacturing capacity exceeding one million square feet, the company said.