Hicksville-based Sleepy's bought for nearly $800m

  • 2015-12-24
Firm Holding Corp. of Texas is set to acquire Sleepy's of Hicksville for $780m.

Sleepy's is a family-owned, specialty mattress retailed that employs about 3,400 people in more than 1,000 stores and other locations across 17 states in the mid-Atlantic region, New England, and Illinois. Sleepy's website lists 25 stores on Long Island alone.

Mattress Firm says the combined organization will have a nationwide presence, operating some 80 distribution facilities and 3,500 retail locations in 48 states. The company further said it will operate as both Sleepy's and Mattress Firm for the near future, and will have a Long Island office. There are more than 600 Sleepy's employees working in Hicksville.

Sleepy's dates back to 1931, when a store called Bedding Discount Centers opened in Brooklyn. In 1957, after continuous expansion, Bedding Discount underwent a rebranding to Sleepy's. According to Mattress Firm, the merger will create the country's first coast-to-coast, border-to-border specialty bedding seller. The scale of the enterprise created by the acquisition will enable the new company to save on national advertising, procurement, sourcing, delivery and distribution, and other costs.

Final approval of the acquisition depends upon federal antitrust examination and approval, and should take place sometime during the first six months of 2016.

The Hicksville Sleepy's might work with a newsletter printing company to create a letter for its customers about the change, and what it will mean for them.