Hollander to Buy Louisville Bedding Retail Business
BOCA RATON, Fla.-In a move that combines two of the biggest manufacturers of basic bedding, Hollander Home Fashions has reached an agreement to buy the retail business of Louisville Bedding.
Terms were not disclosed in a joint statement from the two companies. Louisville Bedding will retain its contract bedding-component business. The sale is contingent on the approval of Louisville Bedding's stockholders, which is expected in late May.
Hollander CEO Chris Baker said the deal will include all of Louisville Bedding's North American operations related to the retail business. This will include the mattress-pad production facilities in the United States and Canada. Baker said the purchase "strengthens our ability to provide outstanding products and service to our customers."
The deal will add Louisville Bedding's roster of basic-bedding brands--which includes Simmons, Beautyrest, Nautica, Croscill, La-Z-Boy and Deep Sleep--to Hollander's brand roster, which includes licenses with Ralph Lauren, Laura Ashley, HoMedics, Court of Versailles, Royal Velvet and Waverly, along with other in-house brands.
Steve Elias, Louisville Bedding CEO, said, "Hollander will enjoy increased production capabilities and desirable retail brands for their customers. We were fortunate to have a buyer that shares our vision for the American renewal movement and domestic production."