KeyBanc Upgrades Mattress Firm Holding Corp. (MFRM) to Buy

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Mattress Firm (MFRM) Completes The Sleep Train Acquisition; Enters $125M Revolver

October 20, 2014 10:58 AM EDT

Mattress Firm (Nasdaq: MFRM) announced the completion of its acquisition of all of the outstanding equity interests in The Sleep Train, Inc., (Sleep Train), the leading West Coast based bedding specialty retailer, for an aggregate purchase price of $425 million, subject to working capital and other customary adjustments, along with the assumption of certain additional liabilities totaling approximately $15 million. The Company expects to receive future annual cash income tax benefits of approximately $11 million over the next 15 years from deductible tax basis goodwill generated from the transaction, subject to the Companys ability to generate future taxable income. Sleep... More