With International Co. , Ltd. , the Boston-
A leveraged buyout company founded by Peter Brook has agreed to buy a majority stake in Serta and Simons mattress maker AOT Bedding Superholdings.
The deal valued mattress companies at about $3 billion, including debt, a person familiar with the matter said.
Advent said in a statement sent by email that the purchase is expected to be completed in the fourth quarter
No email to disclose the terms.
The private equity company said in an email that existing Los Angeles-based investors Ares Management LLC and the Ontario Teacher pension scheme will retain a \"significant\" stake in AOT Bedding
Advent International spokesman Chuck Dohrenwend declined to specify the size or comment of its shares outside the press release.
Rivals including Tempur-
Peki International Limited
The pioneer of memory --
Last year, foam mattresses became the largest listed mattress company in terms of revenue, with sales rising 28% to $1. 42 billion. Sealy Corp. , a 131-year-
Old Company and user of coil
Spring technology, fell to No.
Sales are $1.
23 billion, little change compared to 2010.
In a statement on its website on June 11, Serta said it had become \"number one\"
After a mattress company in the United States increased sales by 18% in 2011, the first time it did not specify whether it was based on sales or dollars.