Greenlit Brands' Bedding Group – divestment to Queens Lane Capital
Miles Advisory Partners is pleased to announce that we have advised Greenlit Brands on the sale of 3 bed, mattress and bedroom-related products businesses sold under the brands of Snooze, Futuresleep, and G&G (together, the Bedding Group) to an Australian private equity fund, Queens Lane Capital.
Transaction Details
Sector
Consumer
Miles Role
Sell-side advisor to Greenlit Brands on the sale of the Bedding Group to Queens Lane Capital
Deal Type
Business Divestment
Year Completed
2023
Contacts for this Transaction
Rohan Manikath
Managing Director
Jack Atkins
Director
Overview
- The Bedding Group comprised 3 complementary, vertically-integrated businesses:
- Snooze, a bed & mattress retailer with a franchised national network of 82 stores targeting upper mid-market price points
- Futuresleep, a national mattress manufacturing business with cut & sew, brand creation and new product development capability
- G&G, an importer & wholesaler of bedroom & dining furniture
- The Snooze brand is amongst the most recognised bed & mattress related brands in Australia offering a combination of proprietary and third-part branded products
- Highly-engaged Snooze franchise network drives superior same-store organic growth and increasing multi-unit franchise ownersh
- Futuresleep’s new product development and cut & sew capability creates a strong, high-margin proprietary offering under the Madison, Sleeptailor & Slumberland brands
- Queens Lane Capital and the broader LK Group bring a breadth of consumer & franchise related experience to support management in delivering their growth plan
Industry Context
The transaction highlighted the importance of being able to combine a physical bricks-and-mortar store network, with a strong ecommerce offering for brands operating at the premium end of the market
