Lehi, Utah – Mattress manufacturer Purple Innovation is to acquire its Utah neighbour Advanced Comfort Technologies, which trades as Intellibed, in an all-share deal. Salt Lake City-based Intellibed has been licensing gel technology from Purple for a number of years.
‘This acquisition allows us to consolidate our IP under one roof, and truly capitalise on the increased consumer interest and demand for Gel Grid technology,’ said Purple’s CEO, Rob DeMartini.
He added that the acquisition should allow his company to accelerate its product development schedule by several years, and move into the luxury end of the sleep and wellness industry where margins are higher.
The Intellibed brands will be folded into a luxury Purple product line, with prices ranging from $1399 for a premium mattress up to more than $7000 for luxury products. The new luxury line is expected to make its debut in early 2023.