The newly formed Visionary Sleep has finalized a definitive purchase agreement with three Restonic licensees: Alliance Sleep, Jackson Mattress and Sleep Products. The new bedding group will operate all three factories under one leadership, with a group of industry veterans serving as principals.
Bob Sherman will serve as CEO of the new Visionary Sleep. As an influential member of Serta Simmons Holding, Sherman is credited with leading Serta to become the top mattress company in the United States. The new president of the group is Barbara Bradford, who brings with her substantial contributions to the industry. Serving most recently as Serta vice president of marketing and merchandising, she is credited with playing a key role in the development of the iComfort series and several branded product collections, including Trump Home.
“Bob and Barbara’s heritage and natural understanding of the mattress industry will be a dynamic asset for the Restonic brand,” said Ron Passaglia, CEO and President of Restonic Mattress Corporation. “Their passion for excellence will be a great benefit for our Restonic team, retailers and today’s consumers. Our entire team is excited about the future and working together to increase the value of Restonic in today’s market place.”
Rounding out the Visionary Sleep leadership team is Jay Patel, a former Serta executive, who will serve as Chief Manufacturing Officer and Laurie Tokarz, former president of Alliance Sleep Products in Buffalo, who will serve as Chief Sales Officer.
Visionary Sleep will operate independently as Restonic’s largest licensee, tapping into and contributing to the combined buying power of the whole group to strengthen dealer support and market penetration.
“There is consolidation happening at all levels in our industry and this private equity will allow us to strengthen our core base and the Restonic brand,” said Passaglia. “It’s refreshing to receive tremendous support from our retailers and this news has already created a groundswell, which is a win-win situation for all.”
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About Restonic: Restonic is guided by the principle that getting a healthy night’s sleep is a right, not a privilege: this means that every Restonic mattress is crafted with better quality materials and greater attention to detail than comparably priced mattresses from competitive brands. Restonic Mattress Corporation is a leading international bedding company with manufacturing facilities throughout the world, including North America, the Far East, Europe, India, Brazil, Middle East and South Africa.