Mattress Warehouse Expands to Over 500 Locations with Latest Acquisition
Deal News | May 02, 2025 | EIN
Mattress Warehouse, the largest independently owned mattress retailer in the U.S., has announced a significant expansion, acquiring 176 new store locations. This acquisition includes former Mattress Firm and Sleep Outfitters stores, as well as distribution centers and corporate offices in Lexington, Kentucky. With this deal, Mattress Warehouse now operates over 500 locations across the nation, strengthening its presence from New Hampshire to Florida, and as far west as Chicago and Milwaukee. According to Bill Papettas, President and CEO, this move enhances the company's mission to improve lives through quality sleep and prepare for upcoming high-demand periods. The acquisition positions Mattress Warehouse favorably for Memorial Day, traditionally a peak sales period, offering Grand Opening deals and customer-centered guarantees. Lowenstein Sandler LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Alvarez & Marsal advised on legal, accounting, and due diligence matters.
Sectors
- Retail
- Legal Services
- Accounting and Financial Advisory
Geography
- United States – The acquisition and resulting expansion of Mattress Warehouse take place across various states in the United States.
Industry
- Retail – The acquisition highlights significant expansion in the retail sector, specifically within the mattress retail industry.
- Legal Services – Legal firms advised Mattress Warehouse on the acquisition, showcasing the relevance of legal services in facilitating M&A transactions.
- Accounting and Financial Advisory – Alvarez & Marsal provided accounting and due diligence, emphasizing the role of financial advisory in mergers and acquisitions.
Financials
- 176 locations – Number of stores acquired by Mattress Warehouse.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mattress Warehouse | Acquirer | Company | The largest independently owned mattress retailer in the U.S., expanding its footprint through acquisition. |
| Mattress Firm | Target Company | Company | A portion of its stores were acquired by Mattress Warehouse. |
| Sleep Outfitters | Target Company | Company | A portion of its stores were acquired by Mattress Warehouse. |
| Lowenstein Sandler LLP | Legal Advisor | Company | Provided legal counsel for the transaction. |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Legal Advisor | Company | Provided legal counsel for the transaction. |
| Alvarez & Marsal | Accounting and Due Diligence | Company | Provided accounting and due diligence expertise for the acquisition. |
| Bill Papettas | President and CEO | Person | Leadership role at Mattress Warehouse, overseeing the expansion. |