Mattress and pillow maker Tempur–Pedic International has acquired its Canadian distributor Tempur Canada. The company is now a wholly–owned subsidiary of Lexington, Ky.–based Tempur–Pedic and will continue to supply the Canadian market with Tempur–Pedic products.
Tempur Canada’s net sales in 2009 were approximately $9 million, according to the company.
Terms of the deal were not disclosed.
The acquisition follows similar transactions in Austria, Australia, China and New Zealand during the past four years.
“Tempur Canada has done a tremendous job of developing this market and has positioned the Tempur–Pedic brand for increased investment,” said Mark Sarvary, Tempur–Pedic chief executive officer. “We are committed to growing Canadian market share and so we will increase our investments in advertising and sales initiatives, which over time we believe will drive significant sales and earnings growth. We are pleased with the results we have experienced in driving sales growth and improved profitability from recently acquired markets. In 2010, we expect the Canadian acquisition will be modestly accretive to earnings.”