A South African-based company is now the owner of the largest mattress retailer in the United States.
Steinhoff International Holdings NV announced it completed its acquisition of Mattress Firm Holding Corp.
As a result of the completion of the transaction, which was first announced in August, Mattress Firm’s common stock will no longer be traded on the NASDAQ stock market.
Upon closing, Mattress Firm became a subsidiary of Steinhoff. Mattress Firm’s management, led by Steve Stagner, executive chairman, and Ken Murphy, president and CEO, will remain in place and continue to run Mattress Firm’s day-to-day activities.
“The transaction with Steinhoff is complete and I am delighted that Mattress Firm is now part of the Steinhoff organization,” said Ken Murphy, president and CEO, Mattress Firm, which operates more than 3,600 stores. “Steinhoff has a proven track record in the global mattress industry, and they share our vision for the growth and expansion of Mattress Firm. Our team remains committed to building a national chain under one banner in the U.S. and offering our guests a great night’s sleep.”