Fenwick & West represented Tuft & Needle, a pioneer and leader among direct-to-consumer mattress startups, in its pending merger with Serta Simmons Bedding, LLC, the leading sleep company and the largest manufacturer, marketer and supplier of mattresses in North America. Financial terms of the transaction were not disclosed.
Through this merger, Tuft & Needle strengthens Serta Simmons Bedding’s market leadership position and expands its offering in the direct-to-consumer segment. Following the close of the transaction, each of the brands in the Serta Simmons Bedding portfolio will remain unique and independent in the market, while sharing a commitment to innovation with distinctive products and differentiated consumer experiences across channels. More information about Tuft & Needle and Serta Simmons Bedding’s merger can be obtained from the company announcement.
The Fenwick transaction team included corporate lawyers Kris Withrow, Steve Levine, Brian Kelly, Shen Zhang and Michelle Zheng; executive compensation and employee benefits lawyers Shawn Lampron, Marshall Mort and Hans Andersson; technology transactions lawyers Ralph Pais, Joseph Schenck and Julia Arruda; antitrust lawyers Mark Ostrau and Ashley Walter; and tax lawyers Will Skinner, Ora Grinberg and Seevun Kozar.