Bensons for Beds has secured additional funding from owner Alteri Investors, which will principally be used to drive digital development as the retailer integrates its online platform with its store network.
The investment comes two years after Alteri first invested in Bensons to support its retail, manufacturing, digital and distribution, providing it with financial flexibility as it emerged from post-Covid disruption.
The investment will also help Bensons grow its store portfolio across England, Scotland and Wales. Operating from 166 stores today, Bensons aims to create a network of 180-190 physical locations over the next two years and continue relocating into more suitable units in the towns in which it already trades.
Additionally, the funding will enhance Bensons’ logistics network – especially at its Tewkesbury distribution centre, which is being revamped to increase capacity, speed up delivery times and align it with customer service levels at its other centres in Huncoat and Ayr.
Investment in Bensons’ Huntingdon manufacturing site will be increased. The facility, which employs 300 people and remained in production throughout the pandemic, opened in 1962 and makes BSI Kite Mark mattresses under Bensons' private-label brands such as Staples & Co, Slumberland and Simply by Bensons. Underlining Huntingdon’s design credentials and craftsmanship, Bensons has this month been awarded seven Good Housekeeping endorsements for a selection of Slumberland mattresses manufactured at the factory.
Ian Shepherd, chairman of Bensons for Beds, comments: “This is an important time for Bensons. Alteri’s investment enables us to step up our transformation programme across all areas of the business.
“We’ve made great progress towards our goal of becoming a market leading omnichannel retailer. There is still plenty to do and this investment will make a big difference, especially at a time when so many retailers are facing strong economic headwinds and the impact of high inflation.”
Gavin George, CEO of Alteri Investors, says: “Alteri remains fully committed to the future of Bensons and this new investment marks another milestone as we build on the strong foundations that have been laid over the past two years. We will continue to work closely with the management team so the business can realise its full potential."
Bensons’ new advertising campaign airs today, and highlights the affordability of its beds and mattresses. Bensons for Beds has calculated that the cost of "a good rest" – when spread over the guaranteed life of one of its mattresses – could be as little as 15p per sleep. The calculation aims to offer reassurance to customers about "the value for money and health benefits of making one of their most important household investments at a time when budgets matter more than ever".