Sealy Corporation Acquires a Stake in Comfort Revolution
The bedding giant joins forces with Comfort Revolution to drive worldwide growth in specialty foam mattresses, toppers and pillows
TRINITY, N.C., June 13, 2012 /PRNewswire/ -- Sealy® Corporation (NYSE: ZZ), the largest bedding manufacturer in the world, has acquired a non-controlling interest in Comfort Revolution, a company known for innovative foam products that offer an especially comfortable night's sleep.
Headquartered in West Long Branch, New Jersey, Comfort Revolution will continue to be led by Founder and CEO Michael Fux, and his management team will continue to control the company's day-to-day operations.
"Comfort Revolution has a track record of success. Their skill in developing and taking to market breakthrough specialty foam and gel bedding products complements Sealy's portfolio of specialty mattress products," says Sealy President and Chief Executive Officer Larry Rogers. "Michael's reputation in the industry, supplier contacts, relationships with major customers and legacy of innovation truly set the company apart."
Following Sealy's announcement last fall to create a separate division to focus on specialty mattress products, this latest move signals Sealy is taking a broader approach to the entire specialty products category and is willing to invest in new technologies and expertise to drive growth.
"Sealy's long term vision is to be a total sleep solution provider, which extends beyond our traditional mattress business, and our strategic partnership with Comfort Revolution is a very big step for us in that direction," said Rogers.
The companies saw exciting possibilities for a long-term strategic relationship to introduce new products around the world. Sealy has been a leader in mattresses since 1881, and Comfort Revolution foam products have received a strong response in the United States.
"Sealy gives us the strength to reach around the globe with our revolution in comfort, and the resources to explore even-more innovative solutions," Fux says.
Sealy and Comfort Revolution will immediately begin selling portable/bed in a box foam mattresses under both brands and anticipate launching specialty foam pillows and toppers under the Sealy brands in early 2013.
Sealy owns one of the largest bedding brands in the world, with sales of $1.2 billion in fiscal 2011. The Company manufactures and markets a broad range of mattresses and foundations under the Sealy®, Sealy Posturepedic®, Sealy Posturepedic®, Optimum™, Stearns & Foster®, and Bassett® brands. Sealy operates 25 plants in North America, and has the largest market share and highest consumer awareness of any bedding brand on the continent. In the United States, Sealy sells its products to approximately 3,000 customers with more than 7,000 retail outlets. Sealy is also a leading supplier to the hospitality industry. For more information, please visit www.sealy.com.
About COMFORT REVOLUTION
Comfort Revolution, headquartered in West Long Branch, New Jersey, is a leading developer and marketer of high-end sleep products. The company makes revolutionary mattresses, mattress toppers and pillows using premium memory foam and Hydraluxe (TM) gel technology. Find out more at http://comfortrevolution.com.
Media Contact: Michael Murray
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