Mattress Firm to Acquire 180 Mattress Giant Stores in Florida, Texas

Bedding retailer Mattress Firm announced it's agreed to buy all the remaining equity interests of Mattress Giant in a deal valued at approximately $47 million. Mattress Firm, which bought 55 Mattress Giant stores last year, said the latest deal involves about 180 stores in Florida and Texas, its two largest markets. It will give the retailer more than 900 stores. With the newly acquired stores and about 100 new stores expected to open, Mattress Firm projects it will end its current fiscal year on Jan. 29, 2013, with more than 1,000 stores and revenues of just over $1 billion.