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From Home Furnishing Business

Purple’s Largest Shareholder Makes Buyout Offer of $225.6 Million

Specialty mattress producer Purple Innovation, best known for its gel grid mattresses, has received an unsolicited buyout offer from Coliseum Capital Management, its largest shareholder, which is worth about $225.6 million.

Coliseum Capital currently owns about 45 percent of Purple’s shares and is offering $4.35 per share for the shares it doesn’t already own.

In a filing with the Securities and Exchange Commission, Coliseum Capital said the offer is an all-cash proposal and is not dependent on the investment fund obtaining financing.

Purple said its board of directors “will carefully review the proposal to determine the course of action that it believes is in the best interest of Purple and all Purple shareholders.”

Earlier this month, publicly traded Purple announced it is buying privately held Intellibed, which also produces gel grid mattresses and licenses its technology from Purple.



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