We have seen that e-commerce sites are operating in variety of markets around the world and one of them we are talking about right now is the mattress market. If you are not aware, it is a huge market on its own and when combined with the furniture and woodworking industry, it can be one of the biggest markets across all the other sectors. Now, we have reports that two of the biggest names in the mattress industry have combined to become one and these are Tempur Sealy and Mattress Firm.
Today, Tempur Sealy announced that they are officially acquiring Mattress Firm for $4 Million USD and this acquisition will include all the brick-and-mortar stores for Mattress Firm as well as their e-commerce store. Tempur Sealy said that their deal “is expected to close in the second half of 2024. Mattress Firm will operate as a separate business unit within the larger company after the acquisition goes through”. “We are excited by the long-term growth prospects for our global vertically integrated Company,”. The company added that “Mattress Firm has been a valued retail partner for more than 35 years, and we look forward to welcoming their talented workforce of more than 8,100 employees to the Tempur Sealy family.”
It is worth noting that Tempur Sealy does not have a huge online presence in the US right now, which means that they are not only acquiring the traditional commerce value of Mattress Firm but also their e-commerce value. This will also help Tempur Sealy have an online presence in the market which is a must going forward. In the news release, the company also mentioned that “Mattress Firm operates more than 2,000 brick-and-mortar stores and an e-commerce site” and added that “When combined with Tempur Sealy, the two will have about 3,000 stores and 30 e-commerce platforms in more than 100 countries” and also mentioned that their total headcount of employees will now go up to 21,000.
The company also mentioned that the reason behind acquiring Mattress Firm is to “bring in Mattress Firm in order to simplify the purchasing process for customers, expand the number of business channels the company can operate through, and streamline operations”.