Mattress Firm to Acquire Sleepy's

Mattress Firm has agreed to acquire a competing chain, Sleepy's, in a $780 million deal that would give the Houston-based company access to new territory in the Mid-Atlantic and the Northeast while combining the nation's two biggest specialty mattress retailers. Company officials said the acquisition would make Mattress Firm the first truly national coast-to-coast retailer of its kind. The combined company would have some 3,500 retail locations and 80 distribution centers in 48 states and generate sales of more than $3.6 billion, CEO Steve Stagner said in a statement.