Mattress Firm to Acquire Sleepy’s

Mattress Firm (MFRM) Sleepy Deal Offers Near-Term Risk But Long-Term Gains - UBS

Michael Lasser from UBS thinks the Sleepy's deal raises Mattress Firm Holding Corp. (NASDAQ: MFRM) long term earnings potential while it elevates near term risk.

MFRM's purchase of Sleepy's puts the final piece in place for it to become the dominant national bedding retailer as it takes out the most obvious competitor of scale that it might have faced in more markets over time.

The company expects to operate the Sleepys infrastructure & brand for the foreseeable future so there will be future sources of cost savings to... More

Mattress Firm (MFRM) Announces Acquisition of Sleepy's; Piper Jaffray Raises Price Target to $55.00

Piper Jaffray reiterated a Neutral rating on Mattress Firm Holding Corp. (NASDAQ: MFRM), and raised the price target to $55.00 (from $47.00), following the company's announcement of the acquisition of Sleepy's, along side a positive pre-announcement of Q3 sales and EPS. Following the acquisition, MFRM will be the leader in mattress retailing with over 20% market share, and with national scale for... More

Mattress Firm (MFRM) to Resume Trading at 4:35 PM

Mattress Firm (NASDAQ: MFRM) to Resume Trading at 4:35 PM

Mattress Firm (MFRM) to Acquire Sleepy's in $780M Deal

Mattress Firm (NASDAQ: MFRM) has entered into an agreement to acquire all of the outstanding equity interests in HMK Mattress Holdings LLC, the holding company of Sleepys and related entities. The aggregate purchase price is $780 million, subject to working capital and other customary adjustments. Sleepys is the nations second largest specialty mattress retailer, with over 1,050 stores in 17 states in the Northeast, New England, the Mid-Atlantic and Illinois.

The closing of the acquisition, which is subject to expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and... More