Sleep Inc. acquires Georgia producer American Bedding
David Perry -- Furniture Today, April 3, 2012
Terms of the transaction were not disclosed.
Sleep Inc. officials said the factory will continue to operate as a strong regional producer.
American Bedding was acquired from Tom Mundy, a bedding veteran who will work with Sleep Inc. as a consultant and business advisor, Sleep Inc. said.
American Bedding becomes the fifth factory for Sleep Inc., which produces bedding under three major brand names: Therapedic, Spring Air and Englander. Sleep Inc. is a licensee of each of those brands and has a plant devoted to each of them.
Earlier this year Sleep Inc. acquired the assets of another Top 15 bedding brand, International Bedding, and acquired the former IB factory in Pennsylvania as part of that deal. That factory is used as a Corsicana Bedding facility. Corsicana, a promotional bedding powerhouse, is a Top 10 bedding brand also owned by Moran.
The American Bedding factory will continue producing the Sterling and Thomas line that has been a hallmark of that operation.
"We are excited to have a strong regional factory such as American Bedding add to the strength of our company," said Sleep Inc. President Doug Guffey. "We respect the competitiveness that Tom Mundy and his team have demonstrated over the years and look forward to a strong future with the American Bedding brand and the Sterling and Thomas brand."
Asked if Sleep Inc. might use the American Bedding factory to produce any of the other brands in the Sleep Inc. portfolio, Guffey responded: "At this time we are keeping this an American Bedding factory. The future holds many opportunities for us, but this business has been a strong player as an independent and we want to keep the momentum rolling."
He added that American Bedding can grow by continuing to service its existing dealers and by bringing innovative new bedding products to them.
Guffey said Mundy "has a good team that will add skill sets to the overall Sleep Inc. team."