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Tempur Sealy International, the world's biggest bed company, earlier this year formed a joint venture that saw it take a majority stake in a new premium beds retail business in Sweden.

 

The Kentucky-headquartered conglomerate has partnered with the management of SOVA, a 26-store high-end Scandinavian retailer, CEO Scott Thompson revealed to analysts on the company's Q2 earnings call late last month.


The JV — which initially entails eight stores in the Stockholm area under the control of a newco that has Tempur Sealy as its majority shareholder — was agreed this spring.


Mr Thompson said SOVA had "a very talented management team there that needed some capital" adding that he was "thrilled to have some additional retail talent that knows how to retail beds at the high end."


Tempur Sealy also recently closed out its acquisition of Comfort Revolution, a U.S based maker of mattresses and sleep accessories. It had owned a minority position in the business since 2012, a year after its inception.