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Joele Frank is working the Chapter 11 filing of Serta Simmons Bedding, which has a 20 percent stake of the US mattress market.
The Doraville, GA-based company says the restructuring will enable it to pare its long-term debt from $1.9B to $300M and make critical investments to grow its Serta, Simmons, Beautyrest and Tuft & Needle brands.
CEO Shelly Huff said Serta Simmons is focused on launching new innovations, building a high-performing and resilient supply chain and expanding its commercial business.
Advent International, private equity firm, acquired Serta Simmons for $3B in 2012.
The mattress maker generated $2.4B in sales for the one-year period ended June 30, 2022.
Joele Frank, Wilkinson Brimmer Katcher’s Ed Trissel, Aaron Palash and Viveca Tress handle Serta Simmons.
Jennifer Kettnich, who was VP-investor relations at Walt Disney Co., has moved to the same position at Mattel.
Sitrick And Company represents BurgerFi International as the Fort Lauderdale casual “better burger” restaurant chain declares Chapter 11.
C Street Advisory Group handles Hoonigan as the marketer of auto enhancements and high-performance drivers’ gear declares Chapter 11.
Kekst CNC is providing media support for the Japanese owner of the 7-Eleven convenience store chain, which has rejected a $39B takeover offer by the Canadian owner of its rival Circle K network. (Updated on 12/6)
Kekst CNC represents Agriculture & Natural Solutions Acquisition Corp. as it acquires Australian Food & Agriculture Co. in a SPAC deal valued at $510M.
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