Somnigroup International Invests In Kingsdown

Somnigroup International is expanding its presence in the mattress industry by taking a minority stake in Kingsdown, a mattress manufacturer. According to executives of the company, the investment is indicative of Somnigroup's "confidence in Kingsdown's brand, heritage, and future." Novacap, the private equity firm that has maintained majority ownership of Kingsdown since 2018, maintains its majority stake.

“Somnigroup’s investment represents a powerful endorsement of Kingsdown’s Style & Substance brand and our proven ability to scale the artistry and innovation that have defined our company for over 120 years,” said Frank Hood, CEO of Kingsdown. “As a passive investor, Somnigroup’s confidence in Kingsdown underscores the strength of our business model, our leadership team and our growth trajectory.” 

Currently, Kingsdown has products in some Mattress Firm stores, and Hood said the company will continue to compete for floor space along with other manufacturers selling the industry’s largest retailer.

“We are proud to partner with Kingsdown, whose long-standing reputation for quality and innovation align closely with our own values,” said Scott Thompson, chairman and CEO of Somnigroup, based in Lexington, Kentucky. “Kingsdown’s tailored product range complements our existing portfolio, broadening our reach across key consumer segments. This investment demonstrates our disciplined capital allocation strategy, confidence in the Kingsdown team and our expectations of long-term growth in the U.S. and Canadian bedding markets.” 

Source: Furniture Today