Mattress maker Advanced Sleep Concepts Inc. has sold its Mattress Barn subsidiary, a 25-store retail chain in Florida, to Glenn Haneberg and Vito Favia, owners of two Midwestern sleep shop chains, Back To Bed and The Bedding Experts. Terms of the deal were not disclosed.
Advanced Sleep Concepts, headquartered in Rome, Ga., is the holding company for Spears Mattress Co., the original Englander licensee. Its mattress brands include Englander, Lady Englander and Rest & Restore, as well as the newly introduced gel lines Englander Egel and Vista Body Cool. President Terry Spears retired from the company last year.
“While at one time, owning a successful specialty sleep retailer fit the company’s strategic vision, this divestiture reinforces ASC’s primary strategy of reinvesting in our core manufacturing business,” said Dominick Azevedo, Advanced Sleep Concepts president and chief executive officer. “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 optimizing the excess capacity in our production facility.”
Azevedo added: “I had the pleasure of working with both Glenn Haneberg and Vito Favia for five years during my tenure as executive vice president of sales at Simmons and feel confident they can lead the Mattress Barn team to the next level.”
