Atlanta, Georgia and Phoenix, Arizona – US mattress giants Serta Simmons Bedding (SSB) and Tuft & Needle are to merge. Terms of the deal have not been disclosed.
Serta Simmons claims to be the world’s largest manufacturer, marketer and distributor of mattresses, and is backed by private equity investor Advent International. Tuft & Needle is a pioneer of the bed-in-a-box concept. It specialises in direct-to-consumer sales, although it has a handful of physical stores.
‘Tuft & Needle is the original disruptor in the direct-to-consumer mattress industry and is a rare example of an economically healthy, fast growing start-up,’ said Michael Traub, CEO of SSB. ‘This merger will greatly accelerate our growth and innovation in the direct-to-consumer segment, and significantly enhance our e-commerce capabilities across brands. Together, we have a clear path to transform the consumer experience at scale as well as the future of the industry.’
T&N’s co-founders, JT Marino and Daehee Park, will join SSB’s leadership team, reporting to Traub. The brands will remain independent in the market, as will SSB’s existing brands, including Serta, Beautyrest, Simmons and Tomorrow.
‘We started Tuft & Needle because we saw a clear opportunity for the mattress industry to put the customer at the centre of everything it does,’ said Marino. ‘The industry is evolving faster than we could have imagined, and we’re proud to have been the catalyst and driver for the transformation.’