Houston – The Houston-based mattress retailer will add approximately 75 specialty retail stores in markets where it currently operates — primarily Denver, Phoenix and Tucson, Ariz.
Mattress Firm has purchased 75 mattress stores in Colorado and Arizona for approximately $35 million.Houston – Mattress Firm Holding Corp. (NASDAQ: MFRM) has entered into an agreement to acquire substantially all of the retail assets and operations of Mattress Liquidators Inc., which operates Mattress King retail stores in Colorado and BedMart retail stores in Arizona, for approximately $35 million. The Houston-based mattress retailer will add approximately 75 specialty retail stores in markets where it currently operates — primarily Denver, Phoenix and Tucson, Ariz. The closing of the acquisition is expected to occur by the end of the second fiscal quarter of 2014 and will be funded by cash reserves and revolver borrowings, as well as a $3.5 million seller note that is payable in quarterly installments over two years. Earlier this month, Mattress Firm purchased Sleep Experts, a chain of 55 mattress stores in Dallas and Austin, for $65 million. Mattress Firm currently operates more than 1,400 stores in 33 states.
— John Nelson