Florida's Mattress Barn sold to Midwest retailers
David Perry -- Furniture Today, November 16, 2011
ROME, Ga. - Advanced Sleep Concepts has announced the sale of its retail subsidiary, Mattress Barn, to Glenn Haneberg and Vito Favia, the principals of Back To Bed and The Bedding Experts, two Midwestern bedding chains.
Mattress Barn is a 25-store bedding specialty retailer in central Florida. Back To Bed and The Bedding Experts operate stores in Illinois, Wisconsin and Indiana. Terms of the deal were not disclosed.
Dominick Azevedo, president and CEO of Advanced Sleep Concepts, said the divestiture "reinforces ASC's primary strategy of reinvesting in our core manufacturing business. It will allow us to focus 100% of our efforts on enhancing relationships with our existing customers as well as develop relationships with new customers, while simultaneously optimizing the excess capacity in our production facility."
Azevedo said he worked with Haneberg and Favia for five years during his tenure as executive vice president of sales at Simmons and said he is confident "they can lead the Mattress Barn team to the next level. We wish them well, and expect to continue our relationship as a key supplier for all of their stores."
Advanced Sleep Concepts is the holding company for the Spears Mattress Co., an Englander licensee, and is based in Rome, Ga. It produces Englander, Lady Englander, Rest & Restore and other lines.
Spears Mattress, which bills itself as the largest bedding manufacturer in the Southeast, has made significant investments recently in its Rome facility to improve plant quality, safety and service, officials said.
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25-store Florida chain Mattress Barn sold
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