When you're able to convey a true sense of conviction and enthusiasm, you can break through skepticism. 10201 Main StHouston, TX, 77025 United States(713) 923-1090 † MATTRESS FIRM HOLDING CORP. Rankings #827 in FORTUNE 1000 (June 2016) Russell 2000 (June 2016) HAVERTY FURNITURE COMPANIES, INC. Unlock more access to Hoover’s! Build customized email lists 24/7, based on your best customer profile. Learn more about the companies you want to sell to. Hoover’s has reports on 85+ million companies and 900 industries. 65,000 data points are updated each day. Get real insight written by real people – exclusive research and reviews by our in-house Editorial staff. We can deliver our data to your desktop, to Excel, direct to your CRM, into your custom app, or via mobile. Call (866) 473-3932 today to get started with a FREE TRIAL! MATTRESS FIRM HOLDING CORP. Company Profile Mattress Firm Holding is soft on comfort. The bedding retailer operates or franchises more than 3,600 stores, primarily under the Mattress Firm name, in some 49 states.
It sells conventional (Simmons) and specialty (Tempur Sealy) mattresses, which together account for most of its sales, in addition to other brands. The company also sells bed frames and bedding accessories. From its humble beginnings in 1986 when three friends pooled their resources to purchase a downtrodden spot in a Houston strip center, the chain has grown into the top US bedding retailer. In 2016 South African retail group Steinhoff acquired the company in a deal valued at $3.8 billion. † Some telephone numbers on the Hoover’s site may be on a country’s do not call or do not contact list including, but not limited to, the United Kingdom’s CTPS or TPS registers. It is a legal requirement that companies do not make sales or marketing calls to registered numbers. These are central opt out registers whereby corporate subscribers and individuals can register their preference not to receive unsolicited sales and marketing telephone calls. By using the information provided on the Hoover’s sites, as the direct marketer you represent and warrant that you will use such information in compliance with all applicable local, state, national or international laws and regulations, including any local do not call registers or marketing regulations, and agree to defend, indemnify and hold harmless Dun & Bradstreet and each of its affiliates in the event your use violates such laws and regulations.
Add to print queue | Investment in / Sale of Mattress Firm Who is Mattress Firm?There’s no substitute for a good night’s sleep, and thankfully, with its broad selection of traditional and specialty mattresses from leading manufacturers, Mattress Firm can help you rest comfortably. Mattress Firm is the nation’s largest specialty bedding retailer, offering a wide range of mattresses, bedding accessories and other related products. Founded in 1987, Mattress Firm operates more than 3,500 stores across 48 states. Our InvestmentWe have followed the mattress industry for years, and in 2012, Stockbridge established a position in Mattress Firm. During the second half of 2015, Berkshire’s private equity team commenced diligence on Mattress Firm and began acquiring the company’s shares on the open market later that year and in early 2016. As another example of firm-wide collaboration, Stockbridge contributed to the private equity diligence efforts and also invested additional capital in the company.
Following our investment, we joined the company’s board of directors. Our PerspectiveAs the nation’s largest specialty bedding retailer, Mattress Firm generates substantial competitive advantages, positioning the company as a powerful player in a growing market. With its 2016 acquisition of Sleepy’s, Mattress Firm significantly expanded its geographic footprint and market share. Our ExitOur holding period was shorter than expected as the company received an unsolicited purchase offer from Steinhoff International, a global value and discount furniture retailer. The transaction closed in September 2016.A HQ consolidation switcheroo has come to light in the last two days, and it proves once again that amenities and employee retention reign. It's a bit of a soap opera, so try and keep up... Mattress Firm and Stage Stores, two Houston-based firms, are both dropping from multiple locations into one HQ. Mattress Firm is moving 350 employees from two Houston offices to fill the entire 130k SF 10201 S Main St (pictured), which is currently occupied by Stage Stores.
(The latter will exit in Q4, and Mattress Firm will take up residency in June 2016.) CBO Karrie Forbes, who’s leading the relocation, says the firm especially targeted location, convenience and size. Mattress Firm has been in fast growth mode over the last two years. The new office has nearly double the number of workstations and leaves space for future expansion. Stage Stores (which operates as Palais Royal locally) hasn’t announced where it’s going, but SVP Randi S tells us it's got a lease signed for about 190k SF near the Galleria. (The move, which also vacates a building in Meyerland, is expected to cost $12M.) She says the biggest driver was bringing employees under one roof. 900 employees will go to the new office and about 50 will remain in the Meyerland office because that division has specific building height requirements. Stage Stores has a big growth plan ahead of it, Randi says, and being together helps it execute more efficiently. But in discussing motivation behind the moves, Mattress Firm CEO Steve Stagner (pictured) and Stage Stores CEO Michael Glazer both busted out the key words that have been driving real estate lately: increased productivity and attracting/retaining top talent.
That made the new amenities at 10201 S Main really attractive to Mattress Firm, including an on-site cafeteria, large meeting spaces and conference centers, ample parking, and close proximity to retail, dining and entertainment. In the future, it may get an on-site gym, wellness center, walking trails and sleep centers. Parkway Properties managing director Mike Fransen isn’t surprised by the focus on amenities; he says Houston’s slower economy hasn’t changed tenants’ desire to have a quality office to recruit and retain talent from. His firm’s acquisition and recent amenity enhancements at CityWest Place and San Felipe Plaza are testing that theory, and he feels like the timing is good. He also finds users expecting high levels of service delivery to accompany this kind of environment, and Parkway is looking to the hospitality industry at times in order to improve. In CityWest and San Felipe, Parkway is implementing “crash points,” places where visiting employees, visitors or clients can work temporarily.