Sweet Dreams are made of this: UK bed retailer sold to Tempur Sealy for £340m
The UK’s biggest beds seller Dreams has been snapped up by mattress maker Tempur Sealy in a deal worth £340m.
Private equity giant Sun European Partners bought bed retailer Dreams out of administration in 2013.
Tempur Sealy said the 200 Dreams stores will remain operating as usual and the retailer’s staff of 2,000 will keep their jobs.
Mike Logue, chief executive of Dreams, said: “We are delighted to be joining the Tempur Sealy family. Today marks a milestone for Dreams.”
The deal signals a long-term turnaround in fortunes for the retailer at the end of a 12-month period where many of its sites were closed due to lockdown.
Dreams fell into administration with the loss of 400 jobs and 90 stores closing in March 2013.
It was bought by Sun European Partners, which also at the time owned rival ScS, for £35m.
Paul Daccus, managing director at Sun European Partners, said: “We are very pleased that our extensive experience in enhancing operations and capitalising on new opportunities allowed us to achieve this positive outcome for Dreams and our investors.”
Dreams was started in 1986 in Uxbridge, west London, by Mike Clare before expanding across the country.
He sold it in 2008 for £200m.