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Sleepwell’s parent company to acquire rival brand Kurlon for Rs 2,150 crore
Sheela Foam, the maker of popular mattress brand Sleepwell also plans to get a 35 percent stake in House of Kieraya Private Ltd, which owns rental startup Furlenco, for Rs 300 crore.
With rental startup, Furlenco, in its kitty, Sheela Foam plans to enter into the online furniture business and get its online business model in order.
Sheela Foam, the maker of popular mattress brand Sleepwell, announced that the company is set to acquire Kurlon Enterprise Ltd (KEL) and House of Kieraya Private Ltd, which owns rental startup Furlenco.
According to media reports, the company is acquiring a 94.66 percent stake in KEL for Rs 2,150 crore and a 35 percent stake in Furlenco for Rs 300 crore.
The acquisition of Kurlon will help Sheela Foam to consolidate the existing fragmented market of mattresses and foam-based products, diversify the customer base, expand distribution network, and scale up production efficiencies and help in cost savings.
With rental startup, Furlenco, in its kitty, Sheela Foam plans to enter into the online furniture business and get its online business model in order.
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