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Sleepwell parent to acquire Kurl-On and Furlenco brands to expand offerings and market share
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Sheela Foam, which owns the popular 'Sleepwell' brand, on Monday announced that it will acquire a majority stake in Kurlon Enterprises that owns “Kurl-On” brand for Rs 2,035 crore. Besides, the company has also signed a deal to acquire a 35% stake in online furniture retailer Furlenco furniture for Rs 300 crore.
The acquisition of a 95% stake in Kurlon Enterprises values the latter at Rs 2,150 crore. The company plans to complete the buyout by November this year.
Sheela Foam’s acquisition of 35% stake in HOK-Furlenco values it at Rs 857.14 crore. The company plans to complete this transaction by August 30.
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