Mattress industry supplier Latexco, which has headquarters in Tielt, Belgium, has acquired a majority stake in FIAB Forserum AB, a latex components supplier based in Forserum, Sweden. Financial details of the deal were not disclosed.
Latexco produces a range of latex mattress and pillow cores, as well as latex sheets. In addition to its headquarters in Belgium, the company has production and logistics facilities in Indonesia, Spain and the United States, as well as regional sales offices in Asia and Latin America.
FIAB lays claim to being the largest Scandinavian latex components supplier to the mattress and furniture industries, specializing in Dunlop-process mattress toppers. In recent years, it has expanded its reach to include the Eastern European and Russian markets.
The two companies will work together to expand and improve sales and service in new and existing markets, according to a news release. Joakim Aberg, chief executive officer of FIAB, will continue to lead the Swedish company. Alexander Bolliou is chief executive officer of Latexco.