Owen & Company, dba Kingsdown Canada, has merged with its US counterpart Kingsdown Inc., one of the most renowned mattress manufacturers in America. Financial terms were not disclosed.
Novacap, the controlling shareholder of Owen & Company, backed the transaction.
In June 2017, NOVACAP through its Industries IV fund acquired Owen & Company.
Founded in 1995 by Hugh Owen, daughter Natlie, son-in-law Michael James, and Cindy Anisman, Vaughan, Ontario based Owen & Company was the exclusive owner of the Kingsdown brand in Canada.
This merger will see the 114-year-old Kingsdown brand, which started in Mebane, North Carolina in 1904, back under common ownership, with a manufacturing and distribution footprint around the world.
Novacap will continue to invest in growing the Kingsdown Group globally. Novacap also plans to use the Kingsdown distribution network to further develop Zedbed, a Quebec-based manufacturer of memory foam mattresses and accessories, throughout the North American market, which was also recently acquired.
“We are excited about the growth trajectory of this business combination, both in North America and abroad,” said Marc Paiement, Senior Partner at Novacap. “Our vision for this industry is to become one of the premier and most recognized brands around the world, and we will support the team in reaching that vision.”
“With Kingsdown Canada, we have built one of the strongest mattress brands in Canada, and we were looking to further expand our business into the U.S. market,” said Mike James, President and CEO of Owen & Company. “Our recent partnership with Zedbed, and now our merger with Kingsdown USA will accelerate this growth plan and give all of our brands better access to our large network of retailers. Our customers and clients will all benefit from this merger through improved service and distribution capabilities throughout North America, and access to unique handcrafted products made by our skilled workers throughout North America.”
“This partnership represents a turning point in our company’s history,” said Frank Hood, President and CEO of Kingsdown Inc. “Over our 100-year history, Kingsdown has become one of the most beloved brands in the U.S. and abroad. We are now stronger than ever and are looking forward to pursuing our current development plan with our great new partners, as the reunification with the Canadian family will make our company even stronger than the sum of its parts.”
Mebane, North Carolina based Kingsdown Inc., is a privately-owned manufacturer of fine handcrafted mattresses, originally founded in 1904 by W.W. Corbett and A.N. Scott as “The Mebane Bedding Company”. Research and development, training and distribution, and manufacturing are also located in Mebane, with additional manufacturing locations in California, Florida, Texas, and Virginia.
photo credit: Kingsdown