Mattress Firm To Acquire Back To Bed, Bedding Experts, Mattress Barn Stores

(RTTNews) - Mattress Firm Holding Corp. (MFRM), a specialty retailer of mattresses and accessories in the United States, Friday said it will buy all of the mattress specialty retail assets and operations of Back to Bed Inc., M World Mattress LLC, MCStores LLC and TBE Orlando LLC, which collectively operate Back to Bed, Bedding Experts and Mattress Barn Stores, for nearly $60 million. The acquisition is expected to strengthen the company's presence in Chicago Metropolitan Area and also in its target markets in Florida. The purchase of assets will add about 135 mattress specialty retail stores to the Mattress Firm Company-operated store base in both new and existing markets, primarily in the Chicago and Orlando metropolitan areas. The transaction is expected to occur by the end of the third quarter of 2014 and will be funded by cash reserves and revolver borrowings.

The sellers have been represented in the transaction by Brookwood Associates LLC as investment banking advisor and Kelleher & Buckley LLC as legal advisor.