The Flex Group, a privately held global mattress manufacturer and retailer, with headquarters in Madrid, has completed its acquisition of E.S. Kluft & Co., maker of the high-end Kluft and Aireloom mattress brands, based in Rancho Cucamonga, California. Financial details of the transaction were not disclosed. Flex Group also is the parent of U.K. mattress maker Vi-Spring, which in 2013 purchased a 51% share of E.S. Kluft.
Company founder Earl Kluft has moved into a brand ambassador role, reporting to Rafael González, Flex Group chairman and chief executive officer. In this new role, Earl Kluft has the opportunity to bring his unique design style and industry insight to other Flex Group bed brands, a Flex Group news release said.
According to González, the purchase of E.S. Kluft & Co., in combination with the Vi-Spring bed brand, establish Flex as “the world leader in luxury sleep products—the transaction was particularly important for us as the majority of the world’s high-net-worth consumers reside in North America and we needed a stronger presence in the market. We have been working with Earl for several years now and respect the quality, high standards and continuity of customer relationships that has helped accelerate our growth and prestige in the American market.”
Other members of the Kluft management team remain in place. David Binke, formerly president of sales, is now chief executive officer; David Long oversees product development and is director of marketing. Howard Galant and Chad Megard lead sales in the western and eastern regions, respectively; Ron Bruneau continues as executive vice president of operations; and Alan Docherty is chief financial officer.
Commenting on the sale of his company, Earl Kluft said, “Through the development of the Kluft and Aireloom brands over the past decade, we showcased the impact American craftsmanship could have on our industry. We provided consumers with a spectacular sleep experience while giving retailers the opportunity to increase margin and the perception of their businesses with their customers. I had always admired English luxury beds, particularly Vi-Spring, and was excited to join forces with them under the Flex umbrella. I look forward to my new role working with the senior leadership team to design innovative new product and expand the definition of luxury throughout the world.”