Retailer Mattress Online has completed the buy-out of a Yorkshire furniture store as part of its ambitious "clicks-and-mortar" expansion plan.
Rotherham-based Mattress Online, supported by parent company Cocoon Sleep, has acquired The Skipton Bed & Sofa Centre, a family-owned business that has been operated by the Turner family for more than 50 years.
Late last year, Mattress Online revealed plans to acquire and roll out 10 physical stores over the next five years, blending its customer experience and quick turnaround times with a traditional in-store experience.
CEO Steve Adams says: “Mattress Online’s approach lends itself perfectly to providing a stand-out in-store and omnichannel experience. Skipton Bed & Sofa Centre is a business that’s ready to go. We’ll be keeping the same name and staff, and we warmly welcome the team.
“Our data tells us that North Yorkshire is an area where there’s a lot of opportunity, and by investing in the high street, we’re supporting town centre infrastructure and customers can still benefit from our extensive product range and economies of scale.”
Mattress Online plans to open a nearby warehouse to support the new venture.
“There are some huge shifts in the industry at the moment and we’re proud to be innovating and changing the conversation,” adds Steve. “Products will be easily accessible and delivered quickly as we further invest in our warehousing capabilities.
“In-store, we’ll be blending a traditional setting with new ideas. Staff will have tablets so customers can see user-generated content such as reviews. This means they’ll get a real, rounded view, combining the best of online shopping in a store setting.”
During the pandemic, Mattress Online saw turnover leap to £37.5m, fuelled by stay-at-home spending on DIY and homeware. Last year, Mattress Online processed 128,500 orders from 3.1 million web visitors. The company, which recently expanded its 64-strong team to 73, plans to acquire and roll out new stores on a biannual basis.
The deal, for an undisclosed sum, was completed on 9th March 2022. It was supported by a team of Yorkshire advisers including Alex Cooper and Hannah Nelson from Leeds law firm Clarion’s corporate practice, and their colleague in the property team, Lucy Elsom, who provided legal advice to the purchaser. Fletcher Adamowicz and Ryan Wilkinson from BHP provided tax advice.
Alex Cooper of Clarion says: “It’s great to see a successful Yorkshire business continuing to grow as it embarks on an ambitious buy and build strategy. The combination of extensive online experience with physical stores offers customers even greater choice and is sure to be a winning formula. We wish Steve and the team every success.”