Beter Bed Holding announced it has acquired its Swedish competitor Sängjätten for an undisclosed fee. It feels this acquisition is the ideal way to rapidly expand in Scandinavia.
Leading party in Sweden
Sängjätten currently has 16 stores in Sweden and also has 9 franchise stores. It employs more than 50 people and generates 10 million euro on an annual basis.
“We are pleased to announce the acquisition of Sängjätten. The company fits perfectly into our European expansion strategy, and gives Beter Bed Holding better access to the attractive Swedish market and more generally to the Scandinavian market. With 25 stores at key Swedish retail locations, Beter Bed Holding will be one of the leading players in the Swedish market. The acquisition also gives us a platform for further expansion in Sweden in the coming years”, Chief Executive Officer Ton Anbeek said.
Beter Bed Holding will pay for the acquisition itself and expects to finalize the entire deal in the third quarter of 2016. It is currently active in Germany, Switzerland, Austria, the Netherlands, Belgium, Spain and France, with an annual turnover of 385 million euro.
