Mattress Firm Holding Corp., the parent company of sleep shop chain Mattress Firm, has acquired Mattress Source, a privately owned Charlotte, N.C.-based retailer with 28 storefronts in North and South Carolina. The deal closed Dec. 11 and is valued at $11.2 million.
Houston-based Mattress Firm said it expects to keep all 28 locations operating as rebranded Mattress Firm stores—bringing its total store count to 1,039. The Mattress Source purchase was Mattress Firm’s third major acquisition in 2012 and is part of the company’s aggressive and ongoing growth strategy.
Commenting on the deal, Mattress Firm President and Chief Operating Officer Steve Stagner told BedTimes, “The acquisition of 28 Mattress Source stores further fortifies our position in North and South Carolina. Combining these recently acquired stores with the company’s existing operations results in an increasingly strong presence in these markets, which we believe will lead to increased sales and profits and drive long-term value creation for our shareholders. Most importantly, it allows us to assist thousands of guests through a convenient and differentiated mattress-buying process helping them save money and sleep happy.”