Serta Simmons Bedding and Tuft & Needle Close Merger

SERTA SIMMONS BEDDING­ AND TUFT & NEEDLE CLOSE MERGER

ATLANTA AND PHOENIX (September 28, 2018) – Today, Serta Simmons Bedding, LLC (SSB), the largest manufacturer and distributor of mattresses in North America, and Tuft & Needle (T&N / TN.com), the original market disruptor and one of the nation’s leading direct-to-consumer sleep product companies, have finalized their previously announced merger.

With this merger now complete, SSB will begin integrating the industry-leading direct-to-consumer features refined by Tuft & Needle across its household name brands: Serta, Beautyrest, Simmons and Tomorrow.

With this merger, customer-centric innovations will become the standard for the entire SSB house of brands. Additionally, value-add services will be developed and piloted for SSB’s key retail partners. By accelerating its direct-to-consumer reach and capabilities, SSB will continue to lead in transforming the industry to one that is customer focused.

Tuft & Needle co-founders JT Marino and Daehee Park have been appointed to expanded roles within SSB: Marino is named Chief Strategy Officer and Park is appointed Chief Growth Officer. Both report to SSB CEO Michael Traub.

“As the leader, we will drive the shift in our industry to one that listens to customers, meets their expectations, and truly serves them. We are excited to merge with Tuft & Needle to create the number one customer-centric sleep company with the broadest reach, best-in-class manufacturing and over 150 years of experience,” said Michael Traub, SSB Chief Executive Officer.

“We have opened a new chapter in the mattress industry. Over the coming months, we will begin to showcase to our customers and retail partners key changes in how we operate and go to market. Also, we will offer retail partners new services and tools to support their success in the evolving market. SSB is clearly taking a strong industry-leading position by recognizing the future as delivering best-in-class experiences for customers wherever they choose to shop,” said Tuft & Needle Co-founder JT Marino.

Tuft & Needle joins SSB’s current house of brands which includes Serta, Beautyrest, Simmons, and Tomorrow. All brands will share a commitment to innovation with distinctive products and differentiated customer experiences across channels. Tuft & Needle will continue to deliver and innovate on its exceptional experiences and products.

About Serta Simmons Bedding, LLC
Serta Simmons Bedding, LLC is the leading sleep company and the largest manufacturer, marketer and supplier of mattresses in North America. Majority-owned by Advent International, SSB owns and manages the two best-selling bedding brands in the mattress industry: Serta®, which has five other independent licensees, and Beautyrest®. The brands are distributed through national, hospitality, and regional and independent retail channels throughout North America. SSB also owns Tomorrow®, a direct-to-consumer mattress brand. Based in Atlanta, SSB operates more than 30 manufacturing plants throughout the United States and Canada. For more information about SSB and its brands, visit www.sertasimmons.com.

About Tuft & Needle
Tuft & Needle (“T&N” / TN.com) is a bootstrapped, Phoenix-based company that is the pioneer and leader among direct-to-consumer mattress startups. The company was founded in 2012 by JT Marino and Daehee Park to create exceptional mattress and bedding products and revolutionize the consumer sleep experience. T&N has served 1 million happy sleepers and was named as Entrepreneur’s Best Company Culture in 2017 and one of TIME’s best inventions. T&N is proud to have earned the highest customer loyalty score (Net Promoter Score® of 74) in the mattress market, with over 95% of customers loving their mattress. T&N stores are available in Scottsdale and, Gilbert AZ and Seattle, and most recently, Kansas City. For more information about T&N, visit TN.com.

Media Contact:
Alissa Stevens
Zeno Group
630-390-5568
Alissa.Stevens@zenogroup.com

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