The USA-based Latex International has inked a letter of intent to acquire complete ownership of Atlanta-based Pure LatexBliss, a mattress, pillow and topper brand.
Pure LatexBliss was founded in 2009 and over the last couple of years, it has emerged as one of the world's most rapidly developing luxury mattress brand, having business operations in six countries across the globe.
The label has proved to be a good option for retailers helping them to maintain high prices and grow their profit margins from specialty bedding segment, as many customers who are prepared to spend US$ 2,000 to US$ 3,000 per mattress do not find the feel of memory foam comfortable.
Last year, Latex International acquired a 51 percent stake in Pure LatexBliss. With Latex International acquiring the remaining 49 percent stake, Pure LatexBliss would become its wholly-owned subsidiary.
Latex International is engaged in supplying latex merchandises to mattress manufacturers, while Pure LatexBliss supplies toppers, mattresses and pillows to mattress retailers. The acquisition will help Latex International to better promote the use of latex in the mattress industry.
Post acquisition too, founders of Pure LatexBliss – Joe Hunt and Kurt Ling – would continue to be in charge of the label.
Latex International, which now operates in 60 countries, said it would continue to actively carry on its OEM business in North America.
Fibre2fashion News Desk - India
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