• Dean Horowitz

Mattress Firm being acquired

Steinhoff International acquiring Mattress Firm for $2.4 Billion according to Bloomberg.

Bloomberg states "Steinhoff offered $64 a share in cash, more than double Friday's $29.74 closing pricing for Houston-based Mattress Firm." In November 2015, Mattress Firm purchased Sleepy's for $780 million.  Steinhoff's strategic drivers, according to investor relations, are:

  • Footprint expansion
  • Continuous investment in stores
  • eCommerce
  • Vertical integration of supply chain
  • Sourcing expertise and infrastructure
  • Logistics expertise

Steinhoff, based in Cape Town, South Africa is known as "Africa's Ikea."

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