Phoenix-Based Tuft & Needle Merges With Mattress-Maker Serta Simmons Bedding
Phoenix-based start-up Tuft & Needle is merging with mattress giant Serta Simmons Bedding (SSB).
Tuft & Needle was one of the first companies to sell foam mattresses directly to customers and its marketing was often critical of traditional mattress stores.
“Mattress Stores Are Greedy,” reads one of its billboards.
“At first blush, it might seem a little awkward because we were the original mattress industry disruptor and SSB being the largest company,” said co-founder JT Marino.
Marino and co-founder Daehee Park said Serta Simmons Bedding is also trying to change the industry to be more consumer-centric and this merger will accelerate those changes.
“The merger is truly lifting to the Tuft & Needle brand and its product line, and we’ll be able to bring all of those same elements to the other great brands that are under SSB’s portfolio,” Marino said.
Marino and Park will now work under Serta Simmons Bedding CEO Michael Traub.
"We’re going to fundamentally change the mattress industry to one that consumers love," Park said.
Tuft & Needle will grow its Phoenix office as Serta Simmons Bedding focuses more on innovation.
The details of the merger were not provided.
The company has touted its decision to build their company in Phoenix.
“People here care about their families, care about their community, care about their hobbies, and their interests and their health,” Marino told KJZZ last year. “But, at the same time, they really care about where they work and they care about what that builds toward.”
Tuft & Needle raised the prices of its mattresses last year, partly blaming increased competition.