Daily News
From Home Furnishing Business
Corsicana Acquires Symbol Mattress
May 3,
2021 by Laurie Northington in Business Strategy, Industry 
Corsicana Mattress Co. has announced its acquisition of Richmond, Virginia-based Symbol Mattress, in a transaction that creates the nation’s largest manufacturing organization serving consumers looking to purchase mattresses for under $1,000, which remains the most popular buying segment in the industry.
Together, the company will operate 16 manufacturing centers and employ more than 1,300.Terms of the transaction were not disclosed by the private companies. All employees of Symbol will join the new organization.
Mike Thompson, chief executive officer of Corsicana, will continue to lead the combined company. “We are aggressively pursuing our ‘House of Brands’ strategy and Symbol, with its robust product offering and extensive distribution presence will immediately have an accretive impact on our business. Moreover, the combination of our companies further solidifies our leadership position serving independent bedding retailers with the mattresses most sought after by American consumers, namely those priced under $1,000,” said Thompson. “Symbol Mattress is a talented team of exceptional leaders with a demonstrated track record of profitable growth. Along with our combined manufacturing infrastructure and operating capabilities we will accelerate our transformation initiatives.”
“We are so excited to be a part of the Corsicana team. The merger now allows Symbol to grow nationally and satisfy the heavy demand for our key brands, like Tommie Copper, SleepFresh, and Luuf,” said Mike McQuiston, Symbol’s current president. “By acquiring Symbol Mattress, Corsicana is now able to expand strategically into new key distribution channels and to create a broader footprint,” added Ira Starr, founding partner at Long Point Capital, a private equity firm that led the recapitalization of Corsicana in 2015.