The deal will help Sheela Foam to nearly double its market share in the mattresses segment, said the report
The combined entity will have a market share of more than 50 per cent in India's organised mattress space
Indian mattress maker Sheela Foam Ltd will soon acquire competitor Kurlon for 20 billion rupees ($241.29 million), ET Now reported on Wednesday, citing sources
The company plans to achieve a turnover of Rs 1,500 crore by next year
It will increase its Kurlon Mattress Xpress outlet to 5 from existing 2 located in Raipur, Bhilai
Chairman T Sudhakar Pai said investment on this expansion can go up to Rs 200 crore