From Home Furnishing Business
Sinomax to Buy Equity Stake in Dormeo
Sinomax, a supplier of visco-elastic products, has agreed to take an equity stake in mattress supplier Dormeo.
Terms of the deal, expected to close later this month, were not disclosed.
The deal is an extension of a business relationship between the two companies. Sinomax USA has been the source of Dormeo’s pillow line, its recently introduced mattress topper and the coil supplier for its office chair program.
"We are extremely pleased to enter into this important strategic partnership with Sinomax,” said Jon Stowe, Dormeo CEO. “Their global scale, extensive supply chain expertise and broad industry relationships will provide Dormeo with significant operational advantages going forward. This is a unique opportunity for us to accelerate the distribution reach for our highly differentiated Dormeo-branded products and provide our customers with the extraordinary levels of customer service that they expect and deserve. We look forward to efficiently closing this transaction and moving Dormeo to the next level in the specialty sleep solutions category."
Located in Houston, Sinomax has distribution facilities in California, Texas and South Carolina, as well as vertical integration in China.
“Dormeo’s revolutionary propriety products that are extraordinarily unique in the sleep products business and we see a great opportunity to work with their management team to expand its reach throughout the world,” said Frank Chen, president and CEO of Sinomax USA.