Canadian manufacturing major Kingsdown Canada, part of Toronto-based Owen & Co. Ltd., has acquired Zedbed Inc., a Shawinigan, Québec-based producer of specialty bedding.
The acquisition is part of an aggressive growth plan undertaken by Kingsdown Canada to increase its market penetration and broaden its luxury sleep product offerings across North America, a news release said.
Zedbed has three manufacturing facilities located in the Shawinigan area and is a vertically integrated mattress manufacturer. It pours its own proprietary memory foams and has extensive research-and-development capabilities.
“Foam mattresses represent about 30% of the mattress market in Canada, and Kingsdown Canada has not been an active player in this category,” said Marc Paiement, Owen chairman and a senior partner at private equity firm Novacap, which acquired Owen & Co. in April 2017. “Both companies complement each other well in their respective markets and both will have a lot to gain from one another. Zedbed will have the ability to showcase its unique products outside of the Québec market through the Kingsdown Canada network. Conversely, Kingsdown Canada will benefit from the Zedbed network in Québec and offer a larger spectrum of complementary products, which includes innerspring mattresses.”
“We are extremely excited to be working with the Zedbed team,” added Mike James, president and chief executive officer of Owen & Co. “We were attracted by Zedbed’s versatility and expertise, which enable it to develop and manufacture high-end products that continuously redefine sleep industry standards. They have expertise in product segments we presently do not serve and a tradition of craftsmanship and innovation that makes this relationship very promising.”
For Zedbed, this transaction represents “a great opportunity to take our company to the next level and further develop the North American market,” said President Mario Gélinas, who is continuing in that role along with the rest of the Zedbed executive team.
This story was updated 2/27/18.