KURL-ON ACQUIRES INTERNATIONAL MATTRESS BRAND SPRING AIR
KURL-ON ACQUIRES INTERNATIONAL MATTRESS BRAND SPRING AIR
Acqusition to boost Kurl-on’s revenue to Rs. 2,200 crores in the next two years
Mumbai, April 16, 2019: Kurl-on, India’s leading brand of mattresses, furniture and furnishing products, today announced the acquisition of Spring Air, the leading International brand and amongst the top 10 manufacturers of bedding products in the world, for an undisclosed amount. The acquisition covers Spring Air’s operations across India, Bangladesh, Srilanka and Pakistan. With this acquisition, Spring Air and Englader brand of mattresses will now be under the Kurl-on umbrella. The acquisition will strengthen Kurl-on’s presence in the premium bedding segment, besides enabling them penetrate the fast growing demand in the hospitality sector and is in line with Kurl-on’s aggressive expansion strategy of both its product portfolio and retail presence.
Announcing the details of the acquisition at a press conference here in Mumbai, Mr. Sudhakar Pai, Chairman & Managing Director, Kurl-on, said “At Kurl-on, we are focused on enhancing our product portfolio backed by R&D and new technologies. While Kurl-on regularly invests on R&D, we are also open to exploring newer avenues for technological advancements and it is here, where we saw a fitment with Spring Air.” “The acquisition will contribute to Kurl-on crossing the Rs. 2,000 crore revenue mark in the next two years. We are enthusiastic about our common vision, the similarities in our culture of innovation, and the added value we can create for customers”, he further added.
“Retail expansion continues to be one of the key imperatives for Kurl-on. With this acquisition, Kurl-on will now be able to offer the premium range of mattresses across the length and breadth of the country” added Ashutosh Vaidya, Chief Marketing Officer – Kurl-on.
“Given the increasing consumer spend on home furnishing and decor, we see significant premiumisation in this sector in line with international markets. This deal adds premium international brand of Spring Air and Englader to Kurl-on’s existing portfolio. We have planned a well thought out transition plan to fully harness the synergies and will work together to achieve the same”, said Ashok Kumar, CEO & Member of the Board, Spring Air Bedding Company India Ltd and Spring Air Middle East.
Over the last one year, Kurl-on has made significant investments in R&D and new technologies. The introduction of the sofa range for the untapped semi-premium market; the introduction of innovative products – “STR8” (India’s first Sag Proof Mattress); Mattress In A Box” (Snooze Centre) and “Kooler mattress top” – lends credence to Kurl-on’s thrust and focus to offer innovative home comfort products.
The mattress industry has undergone a profound transformation in recent years. Currently at INR 10,000 crore, the mattress industry is projected to reach INR 14,000 crore by 2021, according to statistics provided, with a CAGR of 9%. According to some studies, consumer preferences have also witnessed a marked shift in preferences wherein consumers are willing to spend higher amounts for quality mattress.
KPMG Corporate Finance was the transaction advisor for this deal.
Kurl-on is India's leading brand of mattresses, furniture and furnishing products in India. The brand is available across India through 7000+ multi brand outlets, 1300+ franchise outlets and 102 exclusive brand outlets across the country today. Kurl-on has 10,000+ dealers, 72 branch and stock points and 10 strategically located manufacturing facilities across Karnataka, Orissa, Madhya Pradesh, Uttaranchal and Gujarat. With state-of-the-art technology, Kurl-on endeavors to improve standards in the Indian mattress and furniture industry besides being in tune with the changing needs of Indian consumer. For more information, please do visit http://www.kurlon.com/
About Spring Air:
Spring Air is a leading and amongst top 10 manufacturers of bedding products in the world specializing in orthopaedic beds and based in USA. With their extensive global presence in the Bedding Industry, they have manufacturing units all over the world and has marked their presence in India as well. Spring Air has earned a reputation over the years for continuous product improvement. Their free-end offset coil design, which adjusts each sleeper's sleight, is today the most copied design in the industry. The company carried innovation a step with its Health Centre Mattress, featuring zones of comfort for different areas of the body. For more information, please do visit http://www.springair.in/
For editorial enquiries only, please contact,
About Spring Air:
Spring Air is a leading and amongst top 10 manufacturers of bedding products in the world specializing in orthopaedic beds and based in USA. With their extensive global presence in the Bedding Industry, they have manufacturing units all over the world and has marked their presence in India as well. Spring Air has earned a reputation over the years for continuous product improvement.
Company name: PRHUB Integrated Marketing Communication Pvt. Ltd.
Company Address: #22, Samson Arcade, Ground Floor, Andree Road, shanthinagar, Bangalore-560027.
Contact Person: Usha Kiran
Contact Number: 8073004089
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release KURL-ON ACQUIRES INTERNATIONAL MATTRESS BRAND SPRING AIR here
News-ID: 1707340 • Views: 547
More Releases from PRHUB Integrated Marketing Communication Pvt Ltd
Edureka launches courses in IoT and popular Blockchain technology - Ethereum Dev …
Bangalore, 24 April, 2018: Edureka, a global e-learning platform providing training in trending technologies, has launched courses in IoT, and Ethereum Developer. The live, instructor-led courses are in-depth training programs that are packed with real-life case studies and practical demos at every stage. Both IoT and Blockchain platforms, including Ethereum, are ranked among the top tech skills to have in 2018. The courses have been launched at a time when
Digital control meets intelligent analog to streamline design
Simplify development of traditionally complex designs with new Microchip’s PIC® and AVR® families featuring Core Independent Peripherals and Intelligent Analog 6 March 2018, New Delhi, [NASDAQ: MCHP] — Whether it’s used as an initial introduction into embedded development, the main controller of a connected application or as an attach component to offload tasks from a larger system, the role of the 8-bit microcontroller (MCU) continues to expand. While inherently simple
ANSYS SPURS PERVASIVE ENGINEERING SIMULATION WITH RELEASE 18
Engineers, from the novice to the highly experienced, can now use engineering simulation software across the entire product lifecycle with the newly released ANSYS® 18. This next generation of ANSYS’ (NASDAQ: ANSS) industry-leading engineering simulation solutions builds upon decades of cutting-edge technology for the most complete and accurate digital prototypes across all major physics, electronics and embedded software areas. This feature-rich release expands the boundaries of simulation upfront in the
GoodWorkLabs awarded the Deloitte 2016 Asia Pacific Technology Fast 500™
GoodWorkLabs Services Pvt. Ltd. got awarded the Deloitte 2016 Asia Pacific Technology Fast 500™, recording a revenue growth of 1112%. GoodWorkLabs ranked 40th with 5 other companies from India in top 100. GoodWorkLabs recently was also awarded the 5th rank on the Deloitte Technology Fast 50™ India 2016, a ranking of the 50 fastest growing technology companies in India. In the report Deloitte Touche Tohmatsu Limited (DTTL) released, the 2016
More Releases for Spring
Global Compression Spring Market 2018 - Lee Spring, CENTURY SPRING
Apex Market Reports, recently published a detailed market research study focused on the “Compression Spring Market” across the global, regional and country level. The report provides 360° analysis of “Compression Spring Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Compression Spring on
Constant Force Spring range from Lee Spring
Constant Force Springs from Lee Spring offer an excellent mechanism for applications where a constant load is required. Some of the many applications of constant force springs are in counterbalances, door closers, cable retractors, hose retrievers, tool head returns, cabinet and furniture components, gym equipment, hair dryers, toys, electric motors, appliances, space vehicles, and other long-motion functions. Specifically, motor springs are used for cable retraction, power generation etc., while power springs
Spring Flings at BCAE!
(BOSTON, MA)—Don’t have a spring break trip planned? Don’t worry, The Boston Center for Adult Education (BCAE), Boston’s premier adult education center, is alleviating the winter blues with their new spring class schedule. Tackle spring fever at the BCAE while learning recipes to make delicious soups & seafood chowders, wow family and friends with an Easter feast and impress with flavorful spring cocktails. Jump into spring time with these
Spring Flings at BCAE!
Don’t have a spring break trip planned? Don’t worry, The Boston Center for Adult Education (BCAE), Boston’s premier adult education center, is alleviating the winter blues with their new spring class schedule. Tackle spring fever at the BCAE while learning recipes to make delicious soups & seafood chowders, wow family and friends with an Easter feast and impress with flavorful spring cocktails. Jump into spring time with these highlighted
Lee Spring acquires Clark Spring & Manufacturing
Lee Spring, a global leader in stock and custom springs, recently announced that it has purchased the assets of Clark Spring located in Hayward, California. Steve Kempf, CEO of Lee Spring, commented that “President of Clark Spring, Eric Eckberg, has built a strong company over the last thirty years based on ongoing engineering support, excellent quality control and attentive customer service. This fits our culture perfectly and adds significantly to
Spring into Pier 6
WHAT: In with the new, out with the old at Pier 6, Charlestown’s premier waterfront dining destination. Beginning April 2016, Executive Chef Adriano Silva is adding seasonal ingredients to the already flavorful menu, and the expert bar staff is revamping the cocktail list to pack a serious springtime punch. Silva brings new life to Pier 6’s dinner selections with