The Mattress Firm Holding Corporation, one of the country's biggest sellers of Sealy and Serta mattresses, has agreed to acquire a West Coast rival, the Sleep Train chain, for about $425 million, solidifying its position as the biggest mattress retailer in the country. The deal will create a larger competitor to face off against department stores and online powerhouses like Amazon.com, but the combined company plans to continue to operate both brands. Sleep Train operates about 310 stores, mostly in California, Oregon and other Western states. The company, which is private, had revenue of $471 million last year.
Home Depot, the world's largest home improvement retailer, is accelerating the national rollout of its online handyman referral service Redbeacon to tap demand from homeowners who don't want to do fix-it projects themselves. Redbeacon, which connects consumers with painters, plumbers, carpenters and maids, expanded this week through Home Depot to Oregon, Washington, Idaho, Utah, Montana and Alaska. That puts the service in 11 states as it pushes nationwide over the next two years, CEO Anthony Rodio said in an interview last week.