Sheela Foam, the parent company of Sleepwell mattresses, has made significant acquisitions. They acquired a 35% stake in furniture startup Furlenco and a majority stake (94.7%) in Kurlon Enterprises, the company behind the Kurlon brand of mattresses. The total value of these deals amounts to Rs 2,335 crore (~$300 million).
With the acquisition of Furlenco, Sheela Foam enters the fast-growing online furniture market. Furlenco operates as a subscription-based furniture rental company, serving over 20 cities in India. Its strong brand and loyal customer base make it a valuable addition.
The acquisition of Kurlon solidifies Sheela Foam’s position in the mattress market. Kurlon is a well-known brand in India with a rich history. It boasts a strong distribution network and offers a wide range of products.
These two acquisitions are a major achievement for Sheela Foam. They enable the company to diversify its product portfolio, expand its customer base, and increase its market share.
The benefits of these acquisitions for Sheela Foam are substantial:
- Sheela Foam’s market share is strengthened with the acquisitions, solidifying its presence in India’s mattress and furniture markets.
- The acquisitions also bring an expanded product range to Sheela Foam, allowing them to cater to a wider range of customer preferences.
- In addition to that, the acquisitions of Furlenco and Kurlon enable Sheela Foam to tap into new customer segments, expanding its reach beyond existing Sleepwell brand customers.
- Furthermore, incorporating two well-established brands into its portfolio reinforces the brand image of Sleepwell, contributing to its growth and recognition.
