Tempur-Pedic International Inc. has acquired its Canadian distributor, Tempur Canada, the Kentucky-based mattress and pillow company announced Monday.
Financial terms of the transaction weren't disclosed. However, Tempur-Pedic said it had $9-million (U.S.) in net sales last year to Tempur Canada.
"Prior to the acquisition, Canada was the largest bedding market where we were represented by a third party distributor," said Tempur-Pedic chief executive officer Mark Sarvary.
"We are committed to growing Canadian market share, and so we will increase our investments in advertising and sales initiatives which over time we believe will drive significant sales and earnings growth."
Tempur-Pedic said it expects the Canadian acquisition will add modestly to its earnings this year. Updated guidance will be issued with first-quarter results on April 20.