Lexington, Kentucky -- Tempur-Pedic International Inc. has acquired its Canadian distributor Tempur Canada Inc, the mattress and pillow manufacturer said 5 April.
"Prior to the acquisition, Canada was the largest bedding market where we were represented by a third party distributor," said TempurPedic ceo, Mark Sarvary, adding that the Canadian market is large and Tempur's share is relatively low.
"Tempur Canada has done a tremendous job of developing this market and has positioned the Tempur-Pedic brand for increased investment. We are committed to growing Canadian market share, and so we will increase our investments in advertising and sales initiatives which over time we believe will drive significant sales and earnings growth," Sarvary said.
The acquisition follows similar transactions in Austria, Australia, China and New Zealand over the last four years.
"In 2010, we expect the Canadian acquisition will be modestly accretive to earnings," Sarvary added. Financial details of the acquisition were not disclosed. (RD)