Atlanta, Georgia - Simmons Bedding Co. signed an agreement to acquire the Comfor-Pedic line of memory foam mattresses and pillows from Comfor Products Inc. on 26 June. Simmons said the acquisition, which is expected to take a month to complete, will "merge seamlessly the most advanced memory foam technology with the strength of the Simmons brand."
This acquisition "positions Simmons squarely in the middle of a growing market and rounds out the company's speciality sleep portfolio," which is anchored currently by a line of latex mattresses, the company's announcement said.
"Manufacturing and selling foam mattresses has its own unique set of characteristics, which is why we're excited about the addition of the Comfor-Pedic team's expertise to our capabilities set," said Charlie Eitel, Simmons chairman and chief executive officer, in the statement.
Atlanta-based Simmons said its market research has shown that 60 percent of consumers are aware of the memory foam category, with half of those considering a purchase. And the survey also revealed that, "there is little brand loyalty to existing players in memory foam."
"Consumer interest in foam mattresses is steadily growing, making it a viable market with room for multiple players," said Eitel.
"We look forward to leveraging Comfor-Pedic's more than 60 years of foam product innovation across our visco and latex offerings," Eitel added.
According to Comfor-Pedic ceo Scott Smalling, "Simmons' rich history of innovation and its strong corporate culture reflect our company's values, which make this union a natural fit." He went on to claim that Comfor-Pedic's memory foam technology will combine with Simmons' iconic brand and retail distribution network, to give customers "the best of both worlds," adding, "We look forward to going to market as a unified force."