Home / Knowledge / News / Textiles / Tempur-Pedic announces acquisition of Canadian distributor
Tempur-Pedic announces acquisition of Canadian distributor
05
Apr '10
Tempur-Pedic International Inc the leading manufacturer, marketer and distributor of premium mattresses and pillows worldwide announced it had acquired its Canadian distributor, Tempur Canada, Inc.

Tempur Canada has become a wholly-owned subsidiary and will continue to provide the Canadian market with products from Tempur-Pedic. In 2009, Tempur-Pedic International reported net sales of approximately $9 million to Tempur Canada.

Chief Executive Officer Mark Sarvary commented, "Prior to the acquisition, Canada was the largest bedding market where we were represented by a third party distributor. The Canadian market is large and our share is relatively low. Tempur Canada has done a tremendous job of developing this market and has positioned the Tempur-Pedic brand for increased investment. We are committed to growing Canadian market share, and so we will increase our investments in advertising and sales initiatives which over time we believe will drive significant sales and earnings growth."

The acquisition follows similar transactions in Austria, Australia, China and New Zealand over the last four years.

Mr. Sarvary added, "We are pleased with the results we have experienced in driving sales growth and improved profitability from recently acquired markets. In 2010, we expect the Canadian acquisition will be modestly accretive to earnings."

The acquisition was effected through the Company's Dan-Foam ApS subsidiary, which is the Company's primary foreign subsidiary and holds the Company's interests in markets outside the U.S. The transaction closed on April 1, 2010. Financial terms were not disclosed. The Company intends to update its financial guidance when it announces its first quarter 2010 results on April 20, 2010.

Tempur-Pedic International Inc


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X