Mattress Firm acquires 9 St. Louis stores
By Furniture Today Staff -- Furniture Today, July 23, 2007
St. Louis — Specialty bedding retailer Mattress Firm said it has completed the previously announced acquisition of its nine franchise stores here from Yotes Inc.
Terms of the deal were not disclosed.
The acquisition brings Houston-based Mattress Firm's corporate-owned store count to 355 in 26 markets, and its franchise-owned store count to 45 in nine markets.
Yotes, a Mattress Firm franchisee for 13 years, will continue to own and operate franchise stores in the Denver and Wichita, Kan., markets.
"This acquisition made a lot of sense for Mattress Firm because it allows us to establish a corporate presence in St. Louis, an attractive market with a lot of potential for future growth," said Gary Fazio, CEO of Mattress Firm.
"We look forward to building on the brand equity that has been established through the presence of our franchise partner in the market, and continuing to provide the unique retail experience, sleep expertise and the broadest selection of products and brands in the industry to these locations," he said.
Fazio added the deal "underscores our strategy to grow both organically and through acquisitions as we strive to become the leading specialty mattress retailer in all of the markets we operate."
Mattress Firm carries brands including the Sealy, Simmons, Stearns & Foster and Tempur-Pedic.
