LONG ISLAND CITY, N.Y.–An investor group headed by Ken Mazda has signed a letter of intent to purchase 1800mattress.com.
According to a 1800mattress statement, Mazda—who joined the online mattress retailer last August as vice president of business development—will serve as the company’s chief executive officer once the acquisition closes, and will assume charge over day-to-day operations. Napoleon Barragan, the company’s founder and current chief executive, will become a consultant and advisor to the company and will focus his efforts on international business development.
The statement said the investor group, called Dial Mattress Acquisition, and 1800mattress have committed to “a swift due-diligence process.” Once the process is finished, Dial Mattress Acquisition will put capital into the company to continue to grow its brand.