Mattress Firm completes Mattress Liquidators purchase

Houston — Mattress Firm Holding Corp. has completed its acquisition of the mattress specialty retail assets and operations of Mattress Liquidators, Inc., which operates Mattress King retail stores in Colorado and BedMart retail stores in Arizona.

This acquisition will add approximately 75 specialty retail stores to the Mattress Firm company-operated store base in markets where the company currently operates, primarily Denver, Colorado, Phoenix, Arizona and Tucson, Arizona, for an aggregate purchase price of approximately $35 million, subject to customary purchase price adjustments. The purchase price was 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.

Mattress Firm expects to rebrand and transition Mattress King and BedMart stores into Mattress Firm stores and has begun the process of outfitting the newly acquired stores with Mattress Firm's merchandising approach, product offerings, point of sale systems and sales programs.

 

 

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