Sleepyhead Group Buys Design Mobel

25 July 2008 For immediate release

Sleepyhead Group Buys Design Mobel

Iconic New Zealand bed manufacturer Sleepyhead today announced it has acquired award-winning Tauranga based bedding and furniture maker, Design Mobel.

Under the deal Design Mobel will continue to operate as a stand-alone business unit when the deal takes effect on 1 August 2008.

Sleepyhead General Manager, Chris Taylor said the acquisition brings two leading New Zealand brands together and will strengthen their market position.

“Sleepyhead and Design Mobel are both proudly New Zealand owned and operated. Our combined skills and continued investment and innovation will allow us to provide an expanded product range to our customers.”

He said it was business as usual for Design Mobel at the company’s Tauranga headquarters.

Design Mobel is the designer, manufacturer and marketer of Your Bodyfit™ Sleep System, bedroom furniture and accessories that are sold in New Zealand, Australia, Asia and the USA.

It is one of the few furniture manufacturers in New Zealand to be ISO 14001 accredited using sustainable resources and manufacturing processes wherever possible including 100% sustainable Rimu.

“Design Mobel is an outstanding kiwi brand that is highly respected. Its values and proud history of producing the highest quality New Zealand products are an excellent strategic fit with Sleepyhead,” said Taylor.

He said both Sleepyhead and Design Mobel would benefit from synergies between the two operations.

“We are really impressed with the Design Mobel team and are already working closely with them to develop new opportunities for the business.”

Design Mobel founder, Dave Macfarlane, said that after two decades growing and leading the business, the Sleepyhead deal will allow him to pursue other interests.

Macfarlane said Design Mobel is well placed for Sleepyhead to take the company forward “with the same passion, energy and kiwi innovation that Design Mobel is synonymous with”.

“Sleepyhead are leaders in New Zealand bed manufacturing and they are the best team to ensure the ongoing success of Design Mobel,” he said.

Sleepyhead’s Chris Taylor said Sleepyhead is 100% New Zealand owned and operated and the Design Mobel acquisition is a further vote of confidence by Sleepyhead in this country’s manufacturing sector.

“As a company committed to remaining in New Zealand, we see this purchase for Sleepyhead Group as part of our ongoing strategy of growth and investment here, both through our own operations and through opportunities to acquire other leading kiwi brands such as Design Mobel.”

NOTES TO EDITORS

Sleepyhead:

- Sleepyhead was established in Auckland in 1935 and is 100% New Zealand owned and operated.

- Sleepyhead’s products are made in New Zealand in its three plants around the country.

- Sleepyhead is regarded worldwide as an innovator in bedding technology.

- The Company’s Otahuhu factory is one of the biggest in Australasia and is also one of the most technologically advanced bed manufacturing plants in the world.

- Retaining a healthy manufacturing sector in New Zealand is an issue Sleepyhead is passionate about and the company is committed to keeping its operations in New Zealand.

- www.sleepyhead.co.nz

Design Mobel:

- Design Mobel is the number one producer of specialist mattresses for flexi slat systems in New Zealand.

- The company was founded 20 years ago by Dave Macfarlane and is headquartered in Tauranga.

- The company has won 20 major design awards in the last 4 years, including the NZ supreme award for Furniture design four times.

- In 2007 Design Mobel was judged the New Zealand Sustainable Business of the Year.

- www.designmobel.co.nz

ENDS

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