🠈 The Mattress Firm 🠊
The Mattress Firm
The Mattress Firm was established on July 4th, 1984 by Steve Fendrich and two college friends. Mr. Fendrich had worked previously with American Bed Co which had credit problems and failed.
The company located its stores in better locations and emphasized service. In 1988, they formed a partnership with Stearns & Foster which allowed them to sell higher end mattresses at a better price point.
The company had grown to 250 stores by 1999. The founders received an offer to buy the firm from Malachi Financial, which they accepted.
The founders grew tired of early retirement. Fendrich hired back on and eventual rose to CEO. His friends bought bought franchises shortly after the acquisition.
Growth by Acquisition
In recent years, the company has been growing by acquisition. Mattress Firm purchased Discount Mattress Barn. According to Wikipedia, a company Sleep Country USA was in merger talks with Sleep Train and was rebranding stores. The Mattress Firm bought Sleep Train and rebranded the Sleep Train stores as The Mattress Firm.
In 2016, The Mattress Firm bought a company called Sleepy's which brought the store count up to 3,500.
The Mattress Firm is headquartered in Houston. The company traded on the NASDAQ with the symbol MFRM. The Mattress Firm was acquired by the South African firm Steinhoff International for $2.4B in 2016.
- Fortune - No Rest for the Mattress Firm (Drawn 11/9/2017)
- Wikipedia - The Mattress Firm (Drawn 11/9/2017)
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