Mattress Firm completes Giant acquisition
Jane Kitchen -- Furniture Today, May 3, 2012
HOUSTON — Mattress Firm has completed its acquisition of fellow Top 100 retailer Mattress Giant, adding approximately 180 stores in seven markets in Florida and Texas.
The deal, valued at about $47 million, makes Mattress Firm the nation's largest specialty bedding retailer with more than 1,000 company-owned and franchised stores.
Mattress Firm said it will soon begin converting the acquired stores to the Mattress Firm name and product offerings. Mattress Giant employees will be trained on the new owner's selling program and point-of-sale systems.
The deal effectively ends Mattress Giant's presence as a bedding retailer. The company once had more than 300 stores in a dozen states. Last year, it sold 55 stores to Mattress Firm and another 67 stores to Hicksville, N.Y.-based Sleepy's.
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