Mattress Firm acquires 26 Mattress Discounters stores

Industry veteran Roger Magowitz sells Virginia, North Carolina stores

Larry Thomas -- Furniture Today, December 2, 2010

HOUSTON — Top 100 retailer Mattress Firm has acquired 26 Mattress Discounters stores in Virginia and North Carolina from mattress industry veteran Roger Magowitz. Magowitz has operated the business since 1986 under a licensing agreement with the Richmond, Va.-based Mattress Discounters chain, and the newly acquired stores will retain the Mattress Discounters name.

The stores are in the Virginia Beach, Va., and Hampton Roads, Va., markets.

Terms of the acquisition were not disclosed.

"We are excited to bring these well-established locations into the Mattress Firm network," said Steve Stagner, CEO of Houston-based Mattress Firm. "This is a great opportunity to combine our scale with an experienced and proven leadership team to continue to grow the Mattress Discounters business."

Stagner said Magowitz will join Mattress Firm in the newly created post of charitable advisor. He will spearhead the retailer's charitable and philanthropic efforts and continue to focus on the Seena Magowitz Foundation, an organization he founded several years ago to raise money for pancreatic cancer research.
Seena Magowitz, Roger Magowitz's mother, died of pancreatic cancer in 2001, and the foundation's annual celebrity golf classic is this weekend in Scottsdale, Ariz.

"We are glad that Roger will have an ongoing role at Mattress Firm. He is an icon of the bedding and furniture industry and has done a phenomenal job building a successful business," Stagner said.

Magowitz said he "couldn't be more pleased to have a company like Mattress Firm carry on what I started more than 25 years ago."

"Mattress Firm is a great cultural fit and it is especially gratifying that the people that have been with me for so long will get an opportunity to work for such a wonderful company," he added.
Mattress Firm has more than 600 stores in 22 states.

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