Eve Sleep confirms sale to Bensons for Beds
eve Sleep, the direct-to-consumer sleep wellness brand operating in the UK, Ireland and France, has announced the sale of its brand and intellectual property to Bensons for Beds.
Backed by Alteri Investors, Bensons for Beds will be taking over the eve Sleep brand and assets including the website from today.
eve appointed Matt Ingram and Jimmy Saunders from Kroll, an independent provider of risk and financial advisory solutions, as joint administrators to handle the affairs of the company and to manage the sale.
Matt Ingram, Managing Director, Kroll said: “eve Sleep is a well-established brand with huge visibility across the UK, however it faced a challenging market backdrop over the past year. The company launched a formal sales process in June 2022 but with UK consumer confidence reaching a record low in August 2022 this process was unsuccessful.”
With significant customer recognition, especially with younger consumers, Bensons has said in a statement that they intends to retain eve Sleep as a standalone brand and re-launch evesleep.co.uk later this month.
The move to acquire the eve Sleep brand will widen Bensons’ appeal and is a measure of its ambition as it continues to invest in its retail, manufacturing, digital and distribution operations.
The acquisition also comes weeks after Bensons secured additional investment from owners Alteri Investors to drive its growth strategy and transformation plans. At the time of that new investment, Bensons made it clear it would accelerate digital development and today’s acquisition of the eve Sleep brand from the administrator underlines that commitment.
“eve Sleep is a brand that we know resonates strongly with key customer groups and we’re looking forward to unlocking its full potential as it takes advantage of our scale and reach.” said Bensons for Beds chief executive officer Nick Collard.
“What’s more, bringing in eve Sleep alongside our own growing portfolio of high quality in-house brands will help us widen Bensons appeal to a broader set of customers.
“With the backing of our owner, Alteri Investors, this is another indication that we are delivering on our pledge to fulfil the promise of the Bensons for Beds brand itself – not just as a retailer of market leading proprietary brands, but with a distinctive and coherent set of owned brand sleep solutions for any customer, both digitally and through our stores.”
eve Sleep was founded in 2015 and listed on AIM in May 2017. eve sells its products through a retail partnership with DFS and through its online portal.
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