Flex Group of Spain has completed its acquisition of E.S. Kluft & Co., which produces luxury mattresses under the Kluft and Aireloom brands.
“The acquisition of E.S. Kluft, along with Vispring establishes Flex as the world leader in luxury sleep products. The transaction was particularly important for us as the majority of the world’s high-net-worth consumers reside in North America and we needed a stronger presence in the market,” said González. “We have been working with Earl for several years now and respect the quality, high standards and continuity of customer relationships that has helped accelerate our growth and prestige in the American market.”
It was important for Flex to keep the entire senior management team at Kluft, many of whom have worked together to build the success of the company for many years. That team includes: David Long, formerly of Simmons and original member of the Kluft team who will head product development and marketing; Howard Galant and Chad Megard who lead sales on the western and eastern halves of the country, respectively; Ron Bruneau, will continue to serve as executive vice president of operations; and Alan Docherty is chief financial officer.
David Binke, a 30-year industry veteran who joined the company three years ago as president of sales for North America, will become chief executive officer. Prior to joining E.S. Kluft & Co. in 2012, Binke was executive vice president of sales for King Koil. He had worked with Kluft for more than a decade earlier in his career when he headed sales and Kluft owned the nation’s largest Spring Air plant.
“I am grateful to Earl for encouraging me to join him a few years ago, and to Flex for giving me the opportunity to lead these iconic brands and continue to work with our amazing leadership team and customer base,” said Binke. “We have a very comprehensive program in place to continue to invest in our growth for many years to come.
About the Flex Group: Founded in 1912, in Zaragoza, Spain by the Beteré family, The Flex Group is a Top 10 global sleep products producer. It hold market leadership positions in Spain, Portugal, Brazil, Chile, the United Kingdom and the United States. The holding company is comprised of seven manufacturing companies with a total of nine production centers, and three retail chains with 115 showrooms in seven countries. The brands range from its luxury portfolio of Vi-Spring, Kluft, Aireloom, ASTB, and mid-market offerings such as: Flex, Dorwin and Epeda.
About E.S. Kluft & Co.: E.S. Kluft & Co., which acquired the Aireloom brand in 2004, produces a broad range of luxury mattresses from California and Pennsylvania facilities to more than 350 doors in the United States and internationally. Kluft is the company’s most luxurious brand and sells almost exclusively in Bloomingdale’s. The plan now is to roll-out the Kluft brand internationally, positioning it as the iconic American luxury bed. Aireloom is the company’s ultra-premium range, has just been rebranded and offers artisanal quality and legacy features such as hand-tied coils and hand side-stitching. The company’s lines feature the most advanced patented designs as well as the highest quality materials.