Cleary Gottlieb is representing Tempur Sealy International Inc. (Tempur Sealy) in its acquisition of Dreams.
The acquisition of Dreams is expected to nearly double Tempur Sealy’s sales through its international segment.
The transaction signed on May 26, 2021, and closed on August 2, 2021, following receipt of regulatory approval from the UK Financial Conduct Authority.
Dreams will be operated as an independent business unit, led by its existing management team. It is expected to complement Tempur Sealy’s legacy Tempur operations and its recently formed Sealy joint venture operations in the UK.
Dreams is the leading bed and mattress retailer in the UK. With 2,000 employees across the UK, Dreams sells over 10,000 mattresses, bases, and headboards per week to customers nationwide through its network of over 200 stores and online.
Tempur Sealy is a global leader in the design, manufacture, and distribution of bedding products and delivers award-winning products that provide breakthrough sleep solutions to consumers in over 100 countries. Its highly recognized brands include Tempur-Pedic, TEMPUR, Sealy, and Stearns & Foster, and its non-branded offerings include value-focused private label and OEM products.
For more information, please see the press release here.