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Thursday, September 4, 2014

Mattress Firm to acquire Sleep Train for $425 mln, (NASDAQ: MFRM)

Mattress Firm Holding Corp said it would purchase privately held bedding retailer The Sleep Train Inc for $425 million. Mattress Firm said it would also acquire The Sleep Train's liabilities of about $15 million.The Sleep Train has about 310 stores in California, Oregon, Washington, Idaho, Nevada and Hawaii and the company reported net sales of $471 million for its fiscal 2013.Separately, Mattress Firm reported a 35.5 percent rise in net sales for the second quarter ended July 30, helped by acquisitions including Mattress Liquidators Inc.

Mattress Firm Holding Corp. (Mattress Firm) is a specialty retailer of mattresses and related products and accessories in the United States. Shares of MFRM fell by 0.42% or $-0.24/share to $56.81. In the past year, the shares have traded as low as $29.29 and as high as $57.99. On average, 212861 shares of MFRM exchange hands on a given day and today's volume is recorded at 235011.