3Z Brands Announces Acquisition of Leesa Sleep

News provided by

Mar 15, 2023, 09:08 ET

Third Acquisition Further Expands Leading Direct-To-Consumer Mattress Platform

PHOENIX, March 15, 2023 /PRNewswire/ -- 3Z Brands ("3Z"), a vertically-integrated manufacturer, wholesaler, retailer and direct-to-consumer distributor of award-winning sleep products, today announced the acquisition of Leesa Sleep ("Leesa").

A trailblazer within the bed-in-a-box industry, Leesa was founded in 2014 with the purpose of elevating life for those in need of better sleep. The company sources high-quality materials produced in America to meticulously craft a suite of sleep products built for exceptional comfort and support. Beyond its innovative offerings, the company is committed to supporting communities and to date, has donated over 40,000 mattresses through partnerships with shelters and non-profit organizations across the United States. Leesa's products and community impact have made it one of the most well-known and beloved direct-to-consumer ("DTC") sleep brands.

"We're excited to welcome another iconic brand to the 3Z family," said John Merwin, Chief Executive Officer of 3Z Brands. "Leesa is an exceptional company built on the pillars of delivering better sleep for customers and creating a positive impact in communities. With its advanced design expertise and high-quality products, we're looking forward to supporting Leesa's continued growth with our best-in-class manufacturing expertise and digital capabilities. This addition marks our third acquisition within the last year, demonstrating 3Z's commitment to building a leading DTC platform that meets each customer's tailored sleeping needs."

"When David Wolfe and I began Leesa, we sought out to change the category through simplifying the buying process, creating fresh product designs using innovative materials, and finding a way to make a social impact," said Jamie Diamonstein, Co-Founder of Leesa. "These pillars have been an integral part of our success and will continue to support the Leesa brand through this new chapter of our business. We're proud of what we've built over the last decade and look forward to developing, innovating, and growing even further with the support and expertise of 3Z Brands."

Michael Akrop, Chief Executive Officer of Leesa added: "This is an incredible milestone for Leesa and I couldn't be more excited for this next chapter with 3Z. Similar to us, 3Z is centered around high-quality sleep products, top-tier value, and a drive to further innovate the sleep experience. Joining 3Z's extensive platform will accelerate our ability to deliver on our mission and continue to provide deeper rest for our customers."

In 2021, Brooklyn Bedding and Helix Sleep combined in partnership with Cerberus Capital Management, and within the last year, the platform acquired Bear Mattress and Nolah Sleep. Leesa will continue to operate under its independent brand name alongside Helix Sleep, Brooklyn Bedding, Birch, Bear Mattress, and Nolah.

Leesa Sleep was advised by investment banking company, Financo | Raymond James. For more information on Leesa, please visit www.leesa.com.

ABOUT 3Z BRANDS
3Z Brands ("3Z") is a vertically-integrated manufacturer, direct-to-consumer brand portfolio, wholesaler, and retailer of award-winning sleep products. Headquartered in Arizona and New York, 3Z operates a portfolio of best-in-class sleep brands, including Helix Sleep, Brooklyn Bedding, Birch, and Bear Mattress. All of 3Z's brands celebrate the power of personal preferences, while focusing on outstanding product quality, having won countless independently reviewed awards. Additionally, 3Z provides mattress production solutions across the industry with world-class expertise in mattress engineering, achieved through meticulous attention to detail, cutting-edge equipment, and decades of industry experience. The company strives to deliver excellent sleep products to any and every door in America.

ABOUT LEESA SLEEP
Leesa was founded on the belief that everyone deserves a better night's sleep. Motivated by a mission to give back and armed with three generations of mattress-innovation experience, David Wolfe and Jamie Diamonstein launched Leesa in Virginia Beach in 2014. Quickly named one of the fastest growing private companies by Inc. Magazine, Leesa stands out by delighting customers with exceptional products and creating a positive impact on the world. Since its launch, Leesa has donated more than 40,000 mattresses to those in need through a network of community partners, homeless shelters, and veterans' organizations.

Leesa mattresses are available on Leesa.com and at a growing list of retailers including West Elm, Pottery Barn, Costco, Home Depot, and Amazon.

SOURCE Brooklyn Bedding