Mattress Firm Acquiring 93 Stores In 3 Deals
Get Breaking News First
HOUSTON (AP) - Mattress Firm Holding Corp. announced three deals Monday, valued at about $80.5 million, which will eventually add 93 stores to the number of locations the mattress retailer owns and operates.
The Houston company said it has agreed to buy Sleep Experts Partners, a retailer that runs Sleep Experts stores in Texas. That deal is expected to close by May.
Separately, the company said it completed the acquisition of a franchisee that operated Mattress Firm stores in Colorado and Kansas and stores of another franchisee in Virginia. Those deals were completed on March 3.
CEO Steve Stagner said the deals give the company control of more stores in “key growth markets.”
“These opportunities bring us closer to becoming the first national specialty bedding retailer, reaching border to border and coast to coast,” Stagner said in a statement.
Mattress Firm, which has more than 1,300 company-owned and franchised stores, said the Sleep Experts deal will add between 3 cents per share and 5 cents per share to its full-year earnings, which runs through Feb. 3, 2015.
Shares of Mattress firm fell $1.08, or 2.4 percent, to $43.90 in midday trading Monday. Its shares have risen more than 50 percent over the past year.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- Cuba, US Begin 5-Game Exhibition Baseball Series
- Rangers Trade Closer Soria For Pair Of Pitching Prospects
- Mavs Sign F Aminu To Two-Year Deal
- Tony Romo A “Full-Go” For Training Camp
- Staubach And Pearson Mourn Loss Of Robert Newhouse
- Texas City Working To Turn Sewer Water Into Tap Water
- Plano Man Killed After Reentering Burning Home To Retrieve Phone
- Allen ISD’s $60 Million Football Stadium Closed For Months
- Spring One Day, Thundersleet The Next
- North Texas Man “Crowdfunds” $90,000 Birthday Party
- PHOTOS: Your Pet Pictures