Corsicana Mattress Company has been acquired by Blue Torch Finance through a court-supervised auction under section 363 of the U.S. Bankruptcy Code. The court, in the Northern District of Texas in Fort Worth, has approved the sale, making Blue Torch the company’s sole owner. Prior to the sale, it was a majority owner in partnership with Long Point Capital and KKR.
“The sale is complete, and the new ownership enables Corsicana to emerge from Chapter 11 as a stronger company with the ability to build on its long-standing foundation as the nation’s largest private retail mattress manufacturer,” said Eric Rhea chief executive officer of the Dallas-based company. “We’ve restructured our company and strategically defined our footprint within key distribution channels to serve our customers better, so we can deliver high-quality sleep products coast-to-coast, handcrafted in the USA for the best possible price — enabling the Corsicana business to continue for another 50 years as the premier value-priced mattress partner.
“We sincerely appreciate our loyal customer base and strategic suppliers,” Rhea continued. “Corsicana remains highly focused on providing our customers with exceptional service and products. We are thankful for the continued hard work and devotion of our employees and their focus on making Corsicana the most efficient and effective mattress supplier in the industry.”