A definitive purchase agreement between Oregon Rug & Mattress Company, a Restonic licensee since 2000, and John Larsen, owner of Sound Sleep, has been signed and closed. The newly formed Oregon Mattress Acquisition Company will function independently from Sound Sleep Products, with Mike Vanier continuing as the new company’s general manager.
“In every area of our organization, we need to challenge the flow of supply and demand and adjust with agility and precision,” said Ron Passaglia, CEO and president of Restonic. “The supply side economics of Sound Sleep, coupled with the branded presence of Restonic in the Pacific Northwest marketplace with Oregon Mattress Company positions this acquisition as a powerful move.”
Sound Sleep, purchased by Larsen in 1994, currently operates two manufacturing facilities in the greater Seattle area and this acquisition affords opportunity for new growth throughout the Pacific Northwest. John Larsen is known for his leadership in the lean manufacturing processes.
Officials from the company feel that even though the two companies will operate independently, the combined buying power and individual contributions of each will strengthen dealer support and market penetration.
“There is consolidation happening at all levels of the supply chain – retail, manufacturing – and these synergies will allow us to strengthen our core base and Restonic brand throughout the Pacific Northwest,” said Passaglia. “It’s refreshing to receive tremendous support from our retailers and it has already created a groundswell, which is a win-win situation for all.”
For more information, visit: restonic.com
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.