We’re Feeling Very, Very Sleepy Because Mattress Firm Buys Sleep Train For $425M

Have you ever walked by a mattress store and automatically felt like you needed a nap? No? Just me? Okay, fine, but the mattress store near you might in for a big change as two mattress retailers prepare to go to bed together.

Bloomberg reports that Mattress Firm Holding Corp. has agreed to buy rival Sleep Train Inc. for $425 million and assume the company’s liabilities of $15 million.

The purchase gives Houston-based Mattress Firm a deeper foothold on the West Coast, with the addition of 310 retail locations in markets in California, Washington and Oregon.

If the deal goes through, the new company will consist of 2,000 stores in 40 states and have estimated sales of about $2 billion.

“The acquisition of Sleep Train will establish Mattress Firm as the first border to border, coast to coast multi-brand mattress specialty retailer,” Steve Stagner, Mattress Firm’s president and chief executive officer, said in the statement.

It remains to be seen how this will affect the naming rights for Sleep Train Amphitheatre in Wheatland, CA, or whether or not a concert venue named Mattress Firm Amphitheatre would be silly enough to make our list of the most awkwardly named venues in the U.S.

Mattress Firm Agrees to Buy Sleep Train for $425 Million [Bloomberg]

by Ashlee Kieler via Consumerist