Sheela Foam to buy rival mattress maker Kurl-on for Rs 2,000 crore

The combined entity will have a market share of more than 50 per cent in India's organised mattress space

One of India’s largest mattress manufacturer Sheela Foam will reportedly soon acquire competitor Kurl-on for Rs 2,000 crore ($241 million), according to media reports.

Ghaziabad-based Sheela Foam sells mattresses under the brand Sleepwell. It commands a market share of about 25 per cent of the Rs 17,000-crore organised mattress segment, according to an ICICIdirect report.

The combined entity will have a market share of about 35-40 per cent in India’s organised mattress space, according to media reports. 

The brokerage also said that the mattress sector is expected to grow at 12 per cent compound annual growth rate between 2021-22 (FY22) and 2025-26.

“Organised players