Owen & Company, dba Kingsdowna Canada and a portfolio company of Novacap, has acquired Zedbed Inc. from Gélinas family for undisclosed amount.
Shawinigan, Quebec based Zedbed is manufacturer of eco-friendly memory foam mattresses, motion bases, and sleep products. With three manufacturing facilities located in Shawinigan area, Zedbed is a highly innovative company, one of the few mattress manufacturers to be vertically integrated in making its own unique soy-based memory foam. These proprietary foams allow Zedbed to offer Made-In-Canada foam products to its customers that no one else can replicate.
Vaughan, Ontario based Owen & Company is a leading mattress manufacturer operating in Canada primarily under the Kingsdown brand. Novcap acquired Owen & Company Limited in June 2017.
This acquisition is part of an aggressive growth plan undertaken by Kingsdown Canada to increase its market penetration and broaden its luxury sleep product offerings across North America.
“Foam mattresses represent about 30% of the mattress market in Canada, and Kingsdown Canada has not been an active player in this category,” explains Marc Paiement, Senior Partner at Novacap and Owen & Company’s Chairman. “Both companies complement each other well in their respective markets and both will have a lot to gain from one another. Zedbed will have the ability to showcase its unique products outside of the Québec market through the Kingsdown Canada network. Conversely, Kingsdown Canada will benefit from the Zedbed network in Québec, and offer a larger spectrum of complementary products, which includes innerspring mattresses.”
“We are extremely excited to be working with the Zedbed team”, says Mike James, President and CEO of Owen & Company. “We were attracted by Zedbed’s versatility and expertise, which enable it to develop and manufacture high-end products that continuously redefine sleep industry standards. They have expertise in product segments we presently do not serve and a tradition of craftsmanship and innovation that makes this relationship very promising.”
“For us, this transaction represents a great opportunity to take our company to the next level and further develop the North American market,” says Mario Gélinas, Zedbed’s President. “We already know that we have great products, and our new partnership with Kingsdown Canada and Novacap will allow us to grow even faster than before.”
Owen & Company strives to become one of the prominent leaders in the mattress market in North America. The acquisition of Zedbed is an integral piece to the puzzle, with its world class research and development capabilities as well as its vertically integrated manufacturing facilities in Québec. Kingsdown’s management are delighted to have Mr. Gélinas and the remaining Zedbed’s executive team, join the Owen & Company Group.
photo credit: Zedbed