LONDON, UK. Sun European Partners, LLP (“Sun European Partners”), the European adviser to Sun Capital Partners, Inc., announces that one of its affiliates has acquired 171 Dreams stores, its head office, its two UK manufacturing facilities and supply chain network from the Administrators, Ernst & Young thereby providing continued employment to approximately 1,675 employees in the UK. All customer deposits and orders will be honoured following the sale.
The remaining 93 stores not included in the sale will remain in Administration.
Founded in 1985, Dreams is the U.K.’s leading bed and mattress specialist which now has 171 retail locations and a growing online presence. With a strong heritage in customer service, Dreams offers a broad selection of the latest products in the bedding segment. The Company’s product offering includes divans, mattresses and bedsteads in addition to a select range of furniture products and associated bedding. Dreams is headquartered in High Wycombe, U.K. and maintains 1,675 employees.
Jordan Wadsworth, Vice President at Sun European Partners, said; “Dreams is a well-recognised brand known for its wide product range of beds, headboards, mattresses and associated products. Despite operating with an over-expanded store base and significant debt in the precarious economic climate of recent years, the business remains the market leader and, with our support, is now well positioned to capitalise on future opportunities.”
Sun European Partners has significant retail and branded retail experience and counts among its affiliated portfolio companies a number of other leading businesses including ScS Upholstery, the UK sofa and upholstery retailer; Sharps Bedrooms, the UK’s leading fitted bedroom and home office specialist; Jacques Vert Group, a UK ladies clothing retailer; Bonmarché, one of the UK’s largest value retailer focused on selling affordable, quality womenswear to women over 45 years old; American Golf, Europe’s largest golfing retailer; Strauss Innovation, a German retail chain; V&D, the largest department store chain in The Netherlands; DBApparel, a market leader in the design, manufacture and distribution of branded intimate apparel; and Scotch & Soda, a designer, marketer, wholesaler and retailer of contemporary casual apparel.
In the United States, an affiliate of Sun European Partners, invested in specialty bed retailer, Mattress Firm and in October 2012 an affiliate of Sun European Partners acquired Sleep Innovations, a leading designer, manufacturer and marketer of memory foam products, including pillows, mattress toppers and mattresses.