Furniture World News page July 1998 -
[Cached Version]
Published on: 4/1/1998
Last Visited: 6/16/2001
Simmons is the largest branded bedding company in the world.
The transaction , expected to close in the third quarter of 1998 , involves the continuing participation of the company's senior management , Investcorp and Simmons employees through the companies ESOP.
Upon completion of the transaction , an investment fund managed by Fenway will own approximately 71 percent of Simmons.Management , employees , and Investcorp will own approximately 29 percent.Fenway's equity investment will total approximately $110 million.
We are extremely excited to begin our partnership with Fenway , said Zenon S. Nie , Chief Executive of Simmons.
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Simmons manufactures a premium range of mattresses and box and related accessories such as frames.Simmons' sales in 1997 were $550 million.
The company's well recognized brand names include Simmons , Beautyrest , BackCare , Connoisseur , Maxipedic and Beautysleep.Simmons' product lines are sold in the U.S. in department stores and other retail outlets , and around the world through international licensing agreements.
Headquartered in Atlanta , Simmons was founded over 120 years ago and today manufactures its products in 18 facilities in the U.S. and licenses its products in 17 countries on five continents.The company's products are premium brands with high margins and are sold in high growth market segments.
Simmons employs 2 , 800 people.Fenway Partners , Inc. is a private equity firm based in New York that has invested in business' with an aggregate transaction value of over $2.1 billion.The firm acquires equity interests in service , food and industrial companies with established reputations and widely recognized brands.Fenway provides management and strategic guidance to improve operating and financial performance of its portfolio companies , including Aurora Foods , which recently completed a successful initial public offering , Delimex , Iron Age , Central Tractor/Country General and Decorative Concepts , among others.
Established in 1982 , Investcorp is a global investment group which acts as a principal and intermediary in international transactions.To date , Investcorp has completed over 70 transactions with an aggregate value of approximately $12 billion.
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Simmons Publishes Check List of Bedding Do and Dont's.
BEDDING DO
BEDDING DON'T
Buy a matching mattress and foundation.Foundations ( also called boxsprings ) are built to work with specific mattress constructions to maximize the benefits of that particular mattress.
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For example , Simmons allows 1 body depression in tight-top mattresses and 1-1/2 in pillow-top mattresses.
Buy a mattress set with a high-quality and well constructed foundation.A good foundation will have multiple torsion bars and strong support beams.The foundation is the first to wear out because it remains in the same position at all times.Buy a mattress without shopping at reputable retailers that carry national brands.Compare models with similar construction , then base your decision on comfort and price.
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For more information on Simmons and to read articles from their Mattress Business Academy go to the Simmons web area on furninfo.com.Retailers can e-mail Simmons at advertising@simmonsco.com.
Western Home Furnishings Association Makes Landmark Decision- Free Legal Counsel Now Available to Membership
For the first time , members of the Western Home Furnishings Association ( WHFA ) in Arizona , California , Colorado , Nevada and Utah are covered with free legal business consultant services.
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Bedtime Reading : To help consumers make smarter mattress purchases , Simmons has developed a free , comprehensive shopping guide that includes mattress lingo , mattress constructions , frequently asked questions and top dos and don'ts of bed buying.The guide , How to Buy a Mattress : The ABCs of Getting Your ZZZs , is available through a toll-free number , 1-888-SIMMONS.
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When it comes to purchasing the perfect mattress , Simmons encourages consumers to do a little bedtime reading , make an educated decision , and sleep on it..
Maker of Beautyrest , BackCare and Sleep Logic@ , Atlanta-based Simmons Company employs more than 2 , 500 people in 18 plants throughout the United States and Puerto Rico.
For more information on Simmons and to read articles from their Mattress Business Academy go to the Simmons web area on furninfo.com or e-mail Simmons at advertising@simmonsco.com.
INFORMATION ON SIMMONS COMPANY
WHO : Simmons Company is the second largest bedding manufacturer in the country.Founded in 1870 by Zalmon G. Simmons , Simmons Company has demonstrated a commitment to the bedding industry through its innovative technology and aggressive sales and marketing campaigns for more than a century.Simmons' flagships include Beautyrest and BackCare mattresses.
WHAT : Simmons Company manufactures mattresses for more than 2 , 500 dealers representing more than 5 , 200 retail locations.
Simmons invested more than $4 million to create the Simmons Institute for Technology and Education ( SITE ).The 38 , 000 - square-foot , built-to-suit facility serves as the nucleus for the company's sales force training , product research and development , manufacturing and national quality assurance.
WHERE : Atlanta-based Simmons Company operates 18 manufacturing plants throughout the United States and Puerto Rico.
SPECIALTY PRODUCTS : The first bedding major to devote an entire division to specialty products , Simmons' Specialty Sleep Division includes ready-to-assemble mattresses , Sleep Logic ( ) , Simmons Adjustable Beds , Simmons Adjustable Firmness Air Sleep System and futons , as well as blankets , sheets and pillows.