Simmons Gets In Memory Foam Bed With Comfor-Pedic

June 26, 2007  by in UnCategorized   

By Home Furnishings Business in Bedding on June 2007 With consumer interest in memory foam mattresses rising, Atlanta-based Simmons has reached an agreement to acquire the Comfor-Pedic line. The deal is expected to close in the next 30 days.

In a statement released Wednesday, Simmons officials said the deal rounds out its specialty sleep offerings, which already include its Natural Care line of latex mattresses.

“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. “We look forward to leveraging Comfor-Pedic’s more than 60 years of foam product innovation across our visco and latex offerings.”

Simmons has conducted market research showing that 60 percent of consumers are aware of the memory foam category, and half of those surveyed have considered purchasing a memory foam mattress.

Butch Webster, Comfor-Pedic’s executive vice president, said, “A match between Comfor-Pedic’s foam expertise and the manufacturing and distribution strengths of an industry leader (is) incredibly powerful. I believe that we have found the perfect partner in Simmons to take this category to the next level.”

The new product line called ComforPedic by Simmons will feature five beds ranging in price from $1,899 to $6,999. It will debut at the Las Vegas Market July 30.