Yahoo Finance Dreams to be snapped up by bedding firm Tempur Sealy in £340m deal
Bedding group Tempur Sealy International has agreed to buy UK mattress retailer Dreams for around £340 million, it was announced on Thursday.
The US firm’s agreement to acquire the chain from Sun European Partners will help it to nearly double international sales compared to 2020.
Dreams has some 2000 employees across the UK, and sells in stores and online. It makes all of its own-brand mattresses at its factory in Oldbury, and sells around 11,500 mattresses, bases and headboards per week.
An affiliate of Sun European Partners bought the retailer in 2013, and last year Dreams recorded sales of £327 million, excluding VAT.
Tempur Sealy International’s chief executive Scott Thompson said: "Dreams has created a strong brand and business model, known for its outstanding products and customer service. We have partnered with Dreams for many years and they are one of the most talented retailers we work with, consistently demonstrated best-in-class web marketing and sales capabilities.”
As part of the agreement, Dreams’ management team will stay in place, led by Mike Logue.
The transaction is expected to close in the third quarter of 2021.
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