Mattress Firm Completes Acquisition of Nine-Store St. Louis Franchise Operation
Furniture World Magazine
Mattress Firm, one of the nation’s leading mattress retailers, announced that it has completed the acquisition of its nine franchise stores in St. Louis from the current franchise owner, Yotes, Inc. Financial terms of the deal were not disclosed.
The acquisition of the St. Louis franchise brings Mattress Firm’s corporate-owned store count to 355 in 26 markets and its franchise-owned store count to 45 in 9 markets. Yotes, Inc., a Mattress Firm partner for 13 years, will continue to own and operate Mattress Firm franchise stores in the Denver, Colo. and Wichita, Kan. markets.
“This acquisition made a lot of sense for Mattress Firm because it allows us to establish a corporate presence in St. Louis, an attractive market with a lot of potential for future growth,” said Gary Fazio, CEO of Mattress Firm. “We look forward to building on the brand equity that has been established through the presence of our franchise partner in the market, and continuing to provide the unique retail experience, sleep expertise and the broadest selection of products and brands in the industry to these locations.”
Fazio added: “This acquisition underscores our strategy to grow both organically and through acquisitions as we strive to become the leading specialty mattress retailer in all of the markets we operate.”
Mattress Firm carries a full line of national name-brand mattresses such as Sealy®, Simmons®, Tempur-Pedic® and Stearns & Foster®.
Mattress Firm now assumes ownership and operations of the nine stores which already feature Mattress Firm signage and branding, expanded product selection and signature store format.
About Mattress Firm: Houston-based Mattress Firm (www.mattressfirm.com) is America’s preferred specialty mattress company and the nation’s largest specialty retailer of top-of-the-line Sealy products. Founded in 1986, Mattress Firm’s knowledgeable sales staff, broad product offering and competitive prices have fueled the company’s growth to 400 stores in 35 markets.