Advent’s Serta Simmons Bedding buys licensee Canwest Bedding

The Canadian subsidiary of Serta Simmons Bedding LLC has acquired Canwest Bedding Ltd, an independent Serta licensee. No financial terms were disclosed. Serta, the Atlanta, Georgia-based owner of bedding brands National Bedding Co LLC and Simmons Bedding Company LLC, said Canwest will continue to operate from its current location in Winnipeg, supplying customers in Manitoba, Saskatchewan and Ontario. Serta has been a portfolio company of U.S. private equity firm Advent International since October 2012. Update: Serta is also backed by the Ontario Teachers’ Pension Plan.

PRESS RELEASE

Serta Simmons Bedding’s Canadian Subsidiary Acquires Serta Licensee Canwest

Transaction Marks Completion of Serta Simmons’ Consolidation of Serta Licensees in Canada

August 14, 2015

WINNIPEG, Manitoba–(BUSINESS WIRE)–SSH Bedding Canada Co. (SSH), an indirect subsidiary of Serta Simmons Bedding, LLC (SSB) that controls the Canadian operations of the Serta and Simmons brands, and Canwest Bedding Ltd. (Canwest), the independent Serta licensee in Winnipeg that services Manitoba, Saskatchewan and Northwestern Ontario, announced today the closing of SSH’s acquisition of Canwest.

“Not only have we expanded our ownership of the Serta brand in Canada, the acquisition demonstrates our commitment to advancing a key strategic goal for SSB, and that is to become a leading international operator.”

“We are excited to bring on board the Canwest operations and team,” said SSB President Michael Traub. “Not only have we expanded our ownership of the Serta brand in Canada, the acquisition demonstrates our commitment to advancing a key strategic goal for SSB, and that is to become a leading international operator.”

SSH now controls the manufacturing and distribution of all Serta and Simmons products in Canada.

Under SSH’s ownership, Canwest will continue to produce Serta products from its current location in Winnipeg, supplying customers in Manitoba, Saskatchewan and Northwestern Ontario. This factory, along with all other SSH operations, is now under the leadership of Shawn Trinier, President of SSH. Mr. Trinier will work closely with the existing leadership team already in place in Winnipeg, including Benjamin Kay, the previous President and Chief Operating Officer of Canwest, who will continue in a consulting role for the near future to help ensure a smooth transition.

“I am looking forward to working with the Canwest team over the coming months as the Canwest operation joins the SSH family,” said Mr. Trinier.

“We are pleased by this transaction because it ensures the continued vibrancy of the Serta brand across Canada as well as a secured future for our dedicated Canwest employees,” said Mr. Kay.

About Serta Simmons Bedding, LLC

Serta Simmons Bedding, LLC (SSB) owns and manages two of the largest bedding brands in the mattress industry – National Bedding Company L.L.C. (the largest licensee and majority shareholder of Serta, Inc.) and Simmons Bedding Company, LLC. SSB is based in Atlanta and operates 33 manufacturing plants in the United States, six in Canada and one in Puerto Rico. Its subsidiary, National Bedding Company L.L.C., is based in suburban Chicago and markets a broad range of products under the Serta® brand, including Perfect Sleeper®, iComfort®, iSeries®, Sertapedic® and a portfolio of licensed products. In addition to National Bedding Company L.L.C., Serta, Inc. has five other independent licensees in the United States that manufacture and market Serta-branded products. SSB’s other subsidiary, Simmons Bedding Company, LLC, is based in Atlanta and markets a broad range of products including Beautyrest®, Beautyrest Black® and BeautySleep®. Both companies also serve as key suppliers of beds to many of the world’s leading hotel groups and resort properties.

Contacts

Mendel Communications
Bill Mendel, 212-397-1030
bill@mendelcommunications.com
or
Serta Simmons Bedding, LLC
Christine Foster, 404-821-7625
cfoster@sertasimmons.com

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