Somnigroup Expands North American Market with Kingsdown Acquisition
Somnigroup International has made significant strides in the North American mattress market by acquiring a minority stake in Kingsdown, a prominent US mattress manufacturer. This move enhances Somnigroup’s presence in the competitive bedding sector.
Details of the Acquisition
According to reports, Novacap, which has dominated Kingsdown since 2018, will maintain its majority stake despite Somnigroup’s investment. This ensures stability in Kingsdown’s operations while allowing for growth opportunities.
Statements from Leadership
Kingsdown’s CEO, Frank Hood, characterized Somnigroup’s investment as a “strong endorsement” of their craftsmanship and innovation. He confirmed that daily operations and existing partnerships will remain unaffected by this change.
Scott Thompson, Chairman and CEO of Somnigroup, expressed that this collaboration aligns with the company’s core values. He noted the potential for enhancing their product portfolio, thereby strengthening their foothold in the US and Canadian bedding markets.
Market Presence and Future Plans
- Kingsdown products are currently sold in select Mattress Firm locations.
- The company intends to continue pursuing retail space to expand its market reach.
This acquisition is part of Somnigroup’s broader strategy to bolster its position in the global sleep industry. The company has actively engaged in various strategic acquisitions in recent years, including the notable 2025 acquisition of Mattress Firm. These moves signify Somnigroup’s commitment to driving long-term growth in the North American mattress market.
