Tempur Sealy to buy Dreams for £340m

Bed group Tempur Sealy is to buy retail chain Dreams for £340m.

Sun European Partners is selling the chain eight years after it bought it out of administration.

Dreams’ management team will stay in place, led by Mike Logue who was appointed ceo in 2013. 

‘We are delighted to be joining the Tempur Sealy family. Today marks a milestone for Dreams. It is recognition of the transformation we have delivered, and is an endorsement of our customer-focused strategy, our culture and our values. With Tempur Sealy we expect to drive our growth strategy and build on our position as the most recommended, specialist bed retailer. I would like to take this opportunity to thank our 2,000 colleagues for their hard work, dedication and commitment. Together we will continue to improve what we make, sell and deliver, to provide better sleep for all our customers,’ says Logue.

Dreams has delivered six years of consecutive growth and generated sales of £327m in 2020.

‘Dreams has created a strong brand and business model, known for its outstanding products and customer service. We have partnered with Dreams for many years and they are one of the most talented retailers we work with, consistently demonstrated best-in-class web marketing and sales capabilities. This acquisition makes both organisations stronger, better positioned to service customers and bring innovative products to market. We look forward to welcoming the entire Dreams organisation to the Tempur Sealy family,’ says Scott Thompson, Tempur Sealy ceo.

‘This transaction is consistent with our stated strategy of acquiring companies when we see their addition as mutually beneficial and accretive to long-term shareholder value. We expect over time to realise synergy opportunities and long-term sales growth.’

‘Our work with Dreams underscores our strength in partnering with outstanding management teams to accelerate value creation. We are very pleased that our extensive experience in enhancing operations and capitalizing on new opportunities allowed us to achieve this positive outcome for Dreams and our investors,’ says Paul Daccus, Sun European Partners md.



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