Diamond Mattress Acquires Apartment Furnishings Company

July 12, 2021  by Laurie Northington in Business Strategy, Industry   

With the purchase of AFC last month and the Royal Sleep brand in 2019, Diamond Mattress has invested more than $15 million in its strategic growth and expansion plans to provide quicker shipping for e-commerce and broader distribution while building a national brand with vertically integrated manufacturing in California and Texas.

“Diamond has always been hyper-focused on meeting the needs of our customers, and our expansions are a direct result of their growth and success,” said Shaun Pennington, Diamond president. “A top priority is to provide a smooth transition for customers of AFC, Royal Sleep and Diamond as we work toward increased capacity for every product line as quickly as we can.”

“With AFC, we are once again merging a family-owned and operated business with very customer-centric values that align well with the Diamond Mattress family and culture. We believe these are winning ingredients, and we’re pleased to have the Street family continue in the business and lend their expertise to grow it,” he said.

Gary Street, second-generation owner of AFC, will serve as director of contract sales. His son Ryan and daughter-in-law, Nicole, will provide continuity of service on all contract accounts.

Martin Romero, vice president of manufacturing for Diamond, estimated the merging of all manufacturing under one roof, spanning 200,000 square feet, will be completed in the next couple of months.

He said, “In a relatively short time, we successfully integrated different mattress and upholstery production systems and equipment. It’s been a total team effort from Gary walking us through details of the contract side to Shaun handling all the training on the factory floor.”

The acquisition was handled by Los Angeles-based firm Greenberg Glusker.