AI Dream, a leading provider of branded sleep solutions and the largest player in the global luxury mattress market, has acquired King Koil, a leading US manufacturer of luxury mattresses, from Malaysia-based investment holding company KPS Berhad. The transaction will accelerate King Koil's growth in the U.S. and provide expansion opportunities for AI Dream in new markets outside of Asia. All of King Koil's current management team will remain with the company, as will the company's name.
Founded in 2018 and acquired in 2021 by Singapore-based private equity firm Hillhouse Investment, AI Dream is a multi-brand company that sells global premium mattress brands King Koil, Serta and Roofvetten in Asia and Europe. A sleep solution platform. AI Dream's products include mattresses, bed frames, smart beds, and customized bedroom solutions.
“Our strategy to develop King Koil as a premium brand with outstanding design and innovation is internationally recognized. AI Dream’s investment supports our strategic decisions to accelerate our growth. They will give us the funding to do it,” said David Binke, chief executive officer of King Koil.
Edward Wu, CEO of AI Dream, said: “The acquisition of King Koil is part of AI Dream’s strategic plan to acquire and develop premium brands that it owns. Going forward, we will strengthen King Koil’s global digital channels, introduce smart products, and optimize brand operations.” We aim to accelerate our growth.”
Sean Carney, Partner and Head of Global Investments at Hillhouse Investments, added: “AI Dream has the capital and strategic vision to support King Koil's future growth.” The acquisition also marks a significant step forward in AI Dream's international footprint. ”
“King Koil and its current management team have made great strides towards becoming a leader in the premium mattress sector, and we are very pleased to play a key role in its growth and development,” said KPS Berhad. Mr. Ahmad, Managing Director and Group Chief Executive Officer. Faris Hassan. “The growth opportunities for King Koil are even greater as the new owners have vast business exposure and deep sector experience, placing the brand on a higher growth trajectory while creating lasting value for stakeholders. I will give you a ride.”
King Koil, the world's leading mattress manufacturer, supports more than 23 licensees in more than 80 countries where King Koil mattresses are manufactured and sold. Headquartered in Avondale, Arizona, the company has a long and rich history dating back to 1898, when Samuel Bronstein founded his United States Bedding in St. Paul, Minnesota. In a small factory he started with 6 employees and the factory continued to grow.
In the 1930s, US Bedding was improving its bedsprings and looking for a new name for the product. That's where the King Coil name was born.
AI Dream is Asia's leading premium sleep solutions provider, operating a portfolio of globally recognized brands including Serta, King Koil and Ruf Betten. AI Dream offers a comprehensive range of premium, top-quality sleep system products, including mattresses, bed frames, adjustable bases, pillows, and more. With a consumer-centric marketing approach and omnichannel strategy, AI Dream's extensive distribution network reaches every place consumers might use our products, including at home and while traveling. At the end of 2020, AI Dream had approximately 2,300 brand stores in over 600 cities, over 1,300 luxury hotel and resort partners, and held market-leading positions on major e-commerce platforms.
Hillhouse Investment is a long-term investor dedicated to partnering with high-quality business leaders for global growth. With nearly 20 years of experience, Hillhouse works with industry-defining companies, establishing alliances across the healthcare, business services, consumer and industrial sectors, and aims to build sustainable, forward-thinking companies. Masu. Hillhouse has a broad platform of alternative investment strategies, ranging from public equity to private equity (venture, growth and buyouts), real assets and private credit. The company manages capital for global institutions including nonprofit foundations, endowments and pensions.
Established in 1975, Kumpulan Perangsang Selangor Berhad (KPS Berhad) is a global investment holding company listed in the Industrial Products and Services sector of the Bursa Malaysia Securities Main Market. KPS Berhad has core investments in the manufacturing sector. KPS Berhad is committed to increasing shareholder value by optimizing profits while contributing to sustainable economic, environmental and social development.
