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Tampa-based Ashley Home says it has agreed to acquire mattress-seller Resident Home, winning approval from both boards of directors, according to a Wednesday news release.
Terms of the deal were not disclosed. The transaction is expected to close Wednesday.
Ashley Home is an affiliate of Ashley Global Retail, which has its corporate office and e-commerce center in Ybor City.
Ashley Home officials say through Ashley's affiliate company, Ashley Furniture Industries, Resident Home will get improved sourcing and efficiencies, allowing additional growth in both its direct-to-consumer and wholesale businesses.Â
Resident Home's brands include Nectar, DreamCloud, Awara and Siena.
Ashley Home says Resident Home established itself "as a leading online seller of mattresses and bedding accessories. Resident's success is underpinned by its deep expertise in data science and analytics, performance marketing and e-commerce technology."
In addition to Resident Home's digital presence, the mattresses are sold at more than 2,500 retailers nationwide, as well as in Canadian and U.K. stores.
As part of the transaction, Eric Hutchinson and Ran Reske, the co-founders and co-CEOs of Resident Home, will remain in their positions post-closing, Ashley Home says.
"In only a few years, Resident Home has established itself as a premier destination for mattresses, and we believe this merger will strengthen both companies and accelerate our growth trajectories, together bringing more products to more homes," says Todd Wanek, Ashley CEO, in Wednesday's news release.
Ashley has more than 1,125 locations in 67 countries.
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