Add-on Acquisition • Retail

Steinhoff Acquires Mattress Firm

On August 8, 2016, Steinhoff acquired retailer Mattress Firm for 3.8B USD

Acquisition Context
  • This is Steinhoff’s 2nd transaction in the Retail sector.
  • This is Steinhoff’s largest (disclosed) transaction.
  • This is Steinhoff’s 1st transaction in the United States.
  • This is Steinhoff’s 1st transaction in Texas.
Investment Fate
  • Mattress Firm went bankrupt in 2018.
  • Mattress Firm was sold to a strategic buyer in 2023 for 4.0B USD.

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M&A Deal Summary

Date August 8, 2016
Target Mattress Firm
Sector Retail
Buyer(s) Steinhoff
Deal Type Add-on Acquisition
Deal Value 3.8B USD
Advisor(s) Barclays Investment Bank (Financial)
Ropes & Gray (Legal)

Target Company

Mattress Firm

Houston, Texas, United States
Mattress Firm's flagship store in Houston, Texas.
Mattress Firm's flagship store in Houston, Texas.
Mattress Firm is multi-brand mattress retailer. Mattress Firm brands include Mattress Firm, Sleepy's and Sleep Train, offers a broad selection of both traditional and specialty mattresses, bedding accessories and other related products. Mattress Firm was formed in 1886 and is based in Houston, Texas.
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Buyer Overview 1

Buyer

Steinhoff

Stellenbosch, South Africa

Category Company
Founded 1964
Sector Consumer Products
Employees91,519
Revenue 7.9B EUR (2020)
DESCRIPTION

Steinhoff is an integrated retailer that manufactures, sources and retails furniture and household goods in Europe, Africa and Australia. In addition, the group owns diversified industrial businesses in southern Africa through supply chain solutions, passenger services, timber products and manufacturing operations across diverse industries. Steinhoff was founded in 1964 and is based in Stellenbosch, South Africa.


Deal Context for Buyer #
Overall 2 of 3
Sector: Retail 2 of 3
Type: Add-on Acquisition 2 of 3
State: Texas 1 of 1
Country: United States 1 of 1
Year: 2016 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-11 Poundland

Willenhall, United Kingdom

Poundland is the largest single price discount retailer in Europe.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-08 Tekkie Town

Gaorge, South Africa

Tekkie Town is a sports and lifestyle shoe chain with over 250 stores country wide. Tekkie Town was founded in 2001 and is based in George, South Africa.

Buy -