Canadian mattress manufacturer Owen & Company has acquired the Québec-based Zedbed Inc. as part of its new growth initiative.
Owen & Company operates primarily under its Kingsdown Canada brand, which sells luxury hand-crafted mattresses to furniture retailers, hotel chains and department stores across North America. In an effort to tap into new markets and broaden its scope, the company partnered up with private equity firm NOVACAP this past June.
“We are very excited to be partnering with NOVACAP,” said Kingsdown President Michael James at the time. “We selected them because of their operational expertise and successful track record. We believe that the NOVACAP team will provide invaluable support to our company as we enter our next stage of growth.”
This next stage of growth apparently involved the acquisition of eco-friendly bed retailer Zedbed earlier this month. The company was founded in 1994 and is notable for the fact that it makes its own soy-based memory foam, which gives it unique control over the development of its mattresses. The operation currently boasts three manufacturing facilities in Québec, but is expected to experience a large boost on the heels of this new acquisition.
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“For us, this transaction represents a great opportunity to take our company to the next level and further develop the North American market,” said Zedbed President Mario Gélinas in an interview with Furniture Today. “We already know that we have great products, and our new partnership with Kingsdown Canada and NOVACAP will allow us to grow even faster than before.”
“We are extremely excited to be working with the Zedbed team,” added Kingsdown’s Mike James. “We were attracted by Zedbed’s versatility and expertise, which enable it to develop and manufacture high-end products that continuously redefine sleep industry standards. They have expertise in product segments we presently do not serve and a tradition of craftsmanship and innovation that makes this relationship very promising.”
The news comes amid a flurry of similar partnerships on the other side of the border, with Casper teaming up with Target and Leesa beginning an exclusive relationship with Pottery Barn.
Featured image courtesy of Zedbed.