August 8, 2016
Steinhoff International Holdings NV, headquartered in Johannesburg, South Africa, will acquire Houston-based Mattress Firm Holding Corp. in a deal valued at $3.8 billion. Over the years, Mattress Firm has acquired other companies, including Mattress Giant, and now operates more than 3,500 stores in the 48 states. The transaction with Steinhoff is scheduled for a Q3 2016 closing.
Mattress Firm will continue operating from Houston as a Steinhoff subsidiay. Steinhoff is an integrated retailer that manufactures, sources and sells furniture, household goods and clothing in Europe, Africa and Australasia. They operate more than 40 brands in 30 countries. The acquisition will provide additional liquidity to Mattress Firm, while giving Steinhoff a springboard into the U.S. market, and expansion of its mattress product category.
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