Mattress maker Kurl-on has acquired the US-based brand Spring Air, which specialises in orthopaedic beds, for an undisclosed amount.
The acquisition covers Spring Air’s operations across India, Bangladesh, Sri Lanka and Pakistan, the company said in a statement Tuesday.
“With this, Spring Air and Englader brand of mattresses will now be under the Kurl-on umbrella,” the company said.
The acquisition will strengthen Kurl-on’s presence in the premium bedding segment, besides enabling it to penetrate the fast-growing demand in the hospitality sector and is in line with its aggressive expansion strategy of both its product portfolio and retail presence, the company claimed.
“The acquisition will contribute to Kurl-on crossing the ₹2,000 crore revenue mark in the next two years,” Kurl- on chairman and managing director Sudhakar Pai was quoted as saying in the statement.
Kurl-on products are available at over 7,000 multi brand outlets, over 1,300 franchise outlets and 102 exclusive outlets across the country today.
The company has 10 manufacturing facilities across Karnataka, Orissa, Madhya Pradesh, Uttarakhand and Gujarat.
The US-based Spring Air is amongst the top 10 manufacturers of bedding products in the world specializing in orthopaedic beds.
Source: Mint