Mattress manufacturer and retailer Hilding Anders International, with world headquarters in Malmö, Sweden, has bought the business and certain assets of U.K. retailer Feather & Black.
It will continue to operate as F&B, which specializes in bedroom furnishings, mattresses and sleep accessories.
Retail veteran Paul Sweetenham was hired as F&B’s interim chief executive officer. He is well-known within the U.K. retail market and grew TK Maxx (part of the same company that owns U.S. retailer TJ Maxx) from 100 stores to a European-wide business with more than 300 stores and a strong e-commerce business, according to a news release.
Commenting on the acquisition, Pepyn Dinandt, Hilding Anders chair and group chief executive officer, said: “I am very excited by this opportunity to re-enter the U.K. market with F&B. (It) has a strong market positioning, excellent customer loyalty and a deep heritage within the U.K. market. We will build on F&B’s solid platform and grow the business across both stores and e-commerce. We will continue with F&B’s current customer and product positioning whilst also looking at further ways to improve our productivity and profitability.”
Joanne Bennett, Hilding Anders group chief financial officer, said: “As a U.K. national, I have been aware of what the F&B brand stands for and the quality of its products and (have been) a regular visitor to my local F&B store for many years. I am also very excited by this opportunity to work with the team to build on the brand strength and grow the business together.”