Flex Group buys Marshall
TORONTO – The Flex Bedding Group has acquired 100% of Marshall Mattress, one of this country’s oldest mattress brands, the acknowledged inventor of the pocket coil spring and a specialist in high-end, custom sleep systems. Under terms of the transaction, all 35 Marshall employees will remain with the company and its 50,000-square-foot manufacturing and distribution centre here will remain in operation. Financial terms were not disclosed.
Headquartered in Madrid, Spain, the Flex Group also owns the Vispring – the British mattress manufacturer – as well as E.S. Kluft & Company, the producer of the Kluft and Aireloom that’s based in California. It also owns And So to Bed, the British bedding retail specialist.
In all, it operates in seven countries and operates 11 production facilities as well as three retail chains with 115 showrooms. Flex also said it produces one million mattresses annually with annual revenues in excess of US$400 million.
Sharan Anisman and Brad Warner, whose family has owned and managed Marshall since 1965, will remain with the company during the transition process. Eric Warner, who currently serves as vice president of marketing and business development, will remain with the company.
In a statement, Flex said it would be making an investment in additional management and resources to grow Marshall’s business in North America. Marshall opened a showroom at the World Market Center in 2017 marking its return to the U.S. after a 20-year absence. It is currently one of only two Canadian mattress manufacturers exhibiting at the Las Vegas Market. The winter 2019 edition will open for its usual five-day run on 27 January.
Flex added the transaction further solidifies its leadership role in the worldwide luxury sleep products sector, particularly in North America.
“We are proud to become a local operator in Canada, a dynamic market with a high average spending per capita. The heritage, know-how and reputation of Marshall fit well with the core values of our group. We plan to invest in the brand and expect Marshall to reach great heights,” Flex Group chief executive officer Rafael Gonzalez said. “We will help enhance customer relationships with more product development and other brands in the group.”
“The Marshall legacy and patented pocketed spring technology will continue to thrive with the Flex Group,” Brad Warner, president of Marshall Mattress, added. “We have had the pleasure of developing a relationship with Rafa and his team over several years, and we are confident they are the right company to further build and grow the Marshall brand.”
Marshall is expected to unveil a new production collection at the upcoming Las Vegas Market. It showroom is located in B922.
Founded in 1900 by machinist and engineer James Marshall, Marshall Mattress is best known for its handcrafted luxury pocket coil mattress collections. Marshall invented and patented the original Marshall Pocket Coil, the first independent spring system designed to provide a unique, optimum, comfort and support environment for sleep. The company pairs luxurious materials – such as cotton wrapped and individually-sewn pocket coils, natural New Zealand wool, pure cotton and finely woven Belgian damask fabric – with new technologies, and quality manufacturing.
Including Bespoke, SleepMaker and Rest Assured, Marshall Mattress offers six collections of one and two-sided mattresses ranging in price from US$1,799 to US$15,000 in queen size. They are sold at select retailers throughout Canada such as Hudson’s Bay, Decorium and Art Shoppe. Their product is also featured at boutique hotels in North America.
Flex jumped into the luxury segment of the mattress market in 2005 with the acquisition of Vispring. Since then, it has grown the company’s business throughout Europe, North America, Middle East and China. The business grew from a primarily U.K.-based brand into a company where export sales now represent 45% of sales and its products are sold in 40 countries.
Since acquiring the E.S. Kluft & Co. and Aireloom in 2013, Flex strengthened its marketing, led a geographic expansion into the Eastern U.S. with a newer and larger plant, and pushed for international expansion that now logs sales from three continents. Over the last five years, sales have more than doubled and profits have tripled.
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