Sheela Foam has received an approval for the acquisition of House of Kieraya (Furlenco). The acquisition will help the Company enter the fast-growing branded furniture market. The acquisition is expected to be completed by August 31, 2023. The Board of Directors of the company at their meeting held on July 17, 2023 has approved the same.
Sheela Foam is a leading manufacturer of mattresses in India marketed under its flagship brand “Sleepwell”.