Innovative Mattress Solutions acquires Alabama retailer Mattress King
David Perry -- Furniture Today, April 17, 2012
WINFIELD, W.Va. — Mattress retailer Innovative Mattress Solutions is entering the Alabama market with its acquisition of 19-store retailer Mattress King.
IMS, based here, reaches the 150-store mark with the deal. Terms of the transaction were not disclosed.
"We are thrilled to continue growing into new markets such as Alabama while expanding in our existing markets as well," said Kim Knopf, owner and CEO of IMS.
The Mattress King acquisition puts IMS in six states with more than 400 employees. IMS operates under the banners of Mattress Warehouse, Sleep Outfitters and Mattresses Unlimited in West Virginia, Ohio, Kentucky, Indiana and Tennessee. It will operate the Alabama stores under the Mattress King name.
Mattress King is based in Huntsville, Ala., and also operates stores in the Birmingham and Tuscaloosa markets. Owners Wayne and Kay Koswoski opened their first Mattress King store in Huntsville in April 1989. The company grew to 19 stores despite losing two stores to tornadoes that swept through the state in April 2011.
The Koswoskis, who plan to retire, said it took a long time to find the right company to sell to.
"We have been blessed to see our company grow during trying times in our industry," said Wayne Koswoski. "When other companies were closing stores, we were opening more. Kay and I are excited about retiring ... almost as excited as we are for our employees. This acquisition will allow them all some wonderful opportunities and career paths greater than what we could have provided on our own."
The Koswoskis' son, Joseph, will join IMS as a corporate level executive.
"This is a win-win," said Joseph Koswoski. "It's a wonderful opportunity for my parents as well as me and the other Mattress King employees. Partnering with IMS allows us to take this company to a whole new level. I'm more excited than ever to see where this takes us."
Both companies operate with a spirit of giving back to the communities they serve, Knopf said.
IMS stores carry innerspring and memory foam mattress sets by Sealy, Simmons, Stearns & Foster and Tempur-Pedic, as well as adjustable bases by Tempur-Pedic and Ergo Motion, Protect-A-Bed mattress protectors, Dream Fit sheets, and memory foam pillows by Tempur-Pedic and others. Mattress King carries the same mattress brands plus Englander.