Mattress Firm to buy American leases in Houston
By Furniture Today Staff -- Furniture Today, May 7, 2007
Houston — National bedding store retailer Mattress Firm has agreed to acquire the leases of 16 Houston-area American Mattress locations from owner Paul Stork.
Terms of the deal were not disclosed. It is expected to close within 30 days.
Mattress Firm officials said the acquisition will further solidify its market leadership in its hometown of Houston, increasing its store count there to more than 50 and bringing the company's total count to 390 units in 20 states.
"This lease acquisition of American Mattress is yet another step in our overall expansion strategy, and underscores our commitment to grow both organically and through acquisitions," said Gary Fazio, CEO of Mattress Firm. "We look forward to expanding our presence in our hometown of Houston and bringing our unique retail experience, sleep expertise and the broadest selection of products and brands in the mattress industry to even more consumers throughout the area."
When the deal is completed, the American Mattress stores will be re-branded as Mattress Firm.
Mattress Firm also said it has completed the previously announced acquisition of Bedtime Mattress Co., with 15 stores in the greater Las Vegas market operating as Bedtime and Mattress Direct. The deal marks Mattress Firm's entry into Nevada.
