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Sleep Train chugs south in Central ValleyPosted 9/22/2011 by Central Valley Business Times
Sleep Train chugs south in Central Valley
September 22, 2011 7:19am
• Mattress retailer buys Christian’s Mattress Xpress
• Acquisition gives Sleep Train stores in Fresno, Visalia, Fowler
Sacramento-based mattress retailer Sleep Train says it has bought Christian’s Mattress Xpress, which has stores in Visalia and Fresno and a warehouse with an outlet store in Fowler.
Financial terms were not revealed.
It’s part of Sleep Train’s plans to expand its brand into new markets throughout the state. The company says that in addition to the newly acquired stores, it will open a fourth in the area this year and 4-5 new stores in 2012.
Christian’s Mattress Xpress was established in 1992 as Christian’s Solid Wood Furniture and became a full line mattress store in 2007. Sleep Train’s acquisition of the company will convert the Mattress Xpress stores into Sleep Train stores by November.
The founder of Mattress Xpress, Ron Gonzalez, will be retained to oversee and support the transition of the stores.
“It’s an incredible opportunity for my team,” says Mr. Gonzalez. “They will join one of the few employee-owned companies in the United States, become part of a talented team that represents the largest mattress retail brand on the West Coast, and be able to contribute to their community through an award winning philanthropic program.”
Sleep Train recently created an Employee Stock Ownership Plan (ESOP) to become an employee-owned company.
“Our goal is to continue to grow our business through acquisition and new store openings,” says Dale Carlsen, CEO of Sleep Train. “With economic conditions improving, we saw an opportunity to expand our reach into a brand new region.”
Sleep Train has more than 230 retail locations along the West Coast. The company’s addition of the Fowler distribution center will allow customers in Fresno, Visalia and Bakersfield to get same-day delivery service, the company says.