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Sheela Foam completes acquisition of 35% stake in House of Kieraya

14 Sep 2023 Evaluate

Sheela Foam has completed the acquisition of 35% of the share capital of House of Kieraya (Furlenco) on a fully diluted basis for an aggregate consideration of Rs 300 crore. The acquisition will help the company enter the fast-growing branded furniture market. Earlier in July 2023, the company had received an approval for the acquisition. 

Sheela Foam is a leading manufacturer of mattresses in India marketed under its flagship brand “Sleepwell”.

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