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Sun European Partners: Sun European Affiliate Agrees to Sell Dreams
Sun European Partners, LLP ( Sun European Partners or Sun European ), a leading private investment firm focused on defensible businesses in growing markets with tangible performance improvement opportunities, today announced that its affiliate has signed a definitive agreement to sell Dreams ( the Company ) to Tempur Sealy International (NYSE: TPX), a global manufacturer of mattresses and bedding products.
Founded in 1985 and based in High Wycombe, Dreams is the leading bed and mattress specialist in the UK. The Company sells 11,500 mattresses, bases and headboards per week in the UK through its store network of over 200 sites and online. Dreams was acquired by an affiliate of Sun European in 2013.
Tempur Sealy To Acquire Dreams, UK s Leading Specialty Bed Retailer
- Acquisition Nearly Doubles International Sales as Compared to 2020
- Worldwide Direct-to-Consumer Sales Expected to Reach Over $1 Billion
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LEXINGTON, Ky., May 27, 2021 /PRNewswire/ Tempur Sealy International, Inc. (NYSE: TPX, Tempur Sealy or the Company ) today announced it has executed an agreement to acquire Dreams, the leading specialty bed retailer in the United Kingdom, primarily from an affiliate of Sun Capital Partners, Inc. The transaction will accelerate Tempur Sealy s growth in the largest European bedding market and sixth largest economy in the world.
The UK’s biggest beds seller Dreams has been bought by mattress maker Tempur Sealy in a deal for £340 million.
The takeover ends eight years of ownership for the brand by private equity giant Sun European Partners, which bought the business out of administration in 2013.
Dreams’ current management team will remain in place and the retailer’s 200 stores, which employ 2,000 staff, will continue to operate as a standalone entity, the new owners said.
Bosses said the deal will allow Dreams to continue its expansion, following six consecutive years of growth culminating in sales of £327 million in 2020.
Dreams is the UK’s biggest beds retailer with 200 stores (Dreams/PA)
Dreams sold to Tempur for £340m
Dreams has been bought for £340 million by Tempur (Dreams/PA)
The UK’s biggest beds seller Dreams has been bought by mattress maker Tempur Sealy in a deal for £340 million.
The takeover ends eight years of ownership for the brand by private equity giant Sun European Partners, which bought the business out of administration in 2013.
Dreams’ current management team will remain in place and the retailer’s 200 stores, which employ 2,000 staff, will continue to operate as a standalone entity, the new owners said.
Bosses said the deal will allow Dreams to continue its expansion, following six consecutive years of growth culminating in sales of £327 million in 2020.