Tempur-Pedic Acquires Canadian Distributor
LEXINGTON, Ky.-Tempur-Pedic has purchased its Canadian distributor, Tempur Canada.
The terms of the transaction were not disclosed. With this acquisition, Tempur Canada has become Tempur-Pedic's wholly owned Canadian subsidiary, and will continue to distribute the parent company's products throughout that country. Over the past four years, Tempur-Pedic has swung similar deals with distributors in Austria, Australia, China and New Zealand.
Mark Sarvary, Tempur-Pedic's chief executive officer, said the company is committed to growing its share of the Canadian mattress market. "We will increase our investments in advertising and sales initiatives, which over time we believe will drive significant sales and earnings growth," he said.