North American Mattress Company Serta Simmons Bedding announces merger with Tuft & Needle

SSB and T&N will team up to create a consumer-centric mattress and bedding company.

North American well-known mattress company Serta Simmons Bedding, LLC (hereinafter referred to as "SSB") and mattress direct selling startup Tuft & Needle (hereinafter referred to as "T&N") recently announced that they have signed a merger agreement to jointly create a consumer Center mattress and bedding company. The detailed terms of the transaction were not disclosed and are expected to be completed within the next 60 days.

 

SSB is one of the largest mattress manufacturers, distributors and suppliers in the United States and is supported by the private equity fund Advent International. Headquartered in Atlanta, the company operates more than 30 manufacturing facilities in the United States and Canada. SSB's best-selling brands are Serta® and Beautyrest®, which are distributed through hotels, regions and independent retail channels throughout North America. In addition, SSB also owns the direct mattress brand Tomorrow®.

 

Once the transaction is completed, each of the brands in the SSB portfolio will remain independent and will be innovative through a unique product and cross-channel differentiated consumer experience.

 

Founded in 2012 by JT Marino and Daehee Park and headquartered in Phoenix, T&N is a mattress direct startup that aims to create exceptional mattresses and bedding that revolutionize the consumer's sleep experience. T&N currently has 1 million customers and was named Best Corporate Culture Award by Entrepreneur magazine in 2017. Its mattress was named one of the best inventions of the year by TIME. T&N's brick-and-mortar stores are located in Scottsdale, Gilbert and Seattle, and Kansas City stores are scheduled to open in the third quarter of 2018.

 

 

Through the merger with T&N, SSB will strengthen its market leadership and expand its size in the direct sales market. The combined company will provide consumers with an innovative product line, optimized service and higher product value, while helping T&N become the leading direct mattress and bedding brand. The deal is also expected to generate higher operational efficiency in the merger of the two companies.

 

(Source: JJgle.com)

Mattress American Tuft & Needle Serta Simmons