Clicks and mortar acquisition for independent retailer
The UK’s leading independent mattress retailer Mattress Online has completed the buy out of The Skipton Bed and Sofa Centre for an undisclosed sum.
The Rotherham-based business acquired the family-owned business as part of its plans to expand both online and in store.
The deal is the first in what is expected to be a series of acquisitions following the brands announcement last year that it would roll out 10 physical stores over the next five years as it looks to blend its customer experience and quick turnaround times with a traditional in-store experience.
Steve Adams
He added: ““Skipton Bed & Sofa Centre is a business that’s ready to go. We’ll be keeping the same name and staff and we warmly welcome the team.
“Our data tells us that North Yorkshire is an area where there’s a lot of opportunity and by investing in the high street, we’re supporting town centre infrastructure and customers can still benefit from our extensive product range and economies of scale.”
Following the acquisition, the retailer which is backed by parent company Cocoon Sleep has also announced plans to open a nearby warehouse to support the new venture.
Adams continued: ““There are some huge shifts in the industry at the moment and we’re proud to be innovating and changing the conversation.
“Products will be easily accessible and delivered quickly as we further invest in our warehousing capabilities.”
The acquisition comes after the business reported last year that revenues climbed to £37.5m.
The deal was supported by a team of Yorkshire advisers including Alex Cooper and Hannah Nelson from Leeds law firm Clarion’s corporate practice and their colleague in the property team, Lucy Elsom, who provided legal advice to the purchaser. Fletcher Adamowicz and Ryan Wilkinson from BHP provided tax advice.
Cooper said: “It’s great to see a successful Yorkshire business continuing to grow as it embarks on an ambitious buy and build strategy. The combination of extensive online experience with physical stores offers customers even greater choice and is sure to be a winning formula. We wish Steve and the team every success.”
