Bain Capital Wins Innocor Auction
Bain Capital has won the auction to buy Innocor, one of the biggest makers of mattress foam, The Post has learned.
The price was roughly $800 million, sources said. Apollo Global Management was a runner-up in the auction.
Bain, which owns Bob’s Discount Furniture, can use the foam bedding material to make mattresses for the retail chain, sources said.
Innocor already makes foam mattresses for Costco, Sam’s Club and Kohl’s — and provides foam for other bed makers.
The West Long Branch, NJ-based Innocor (formerly Sleep Innovations) went bankrupt in 2008. Sun Capital Partners bought it in 2012 and combined it two years later with Flexible Foam Products.
Bain returns to the bedding space that has been very kind to its bottom line. It owned Sealy for seven years, until 2004 — leading a group that invested $140 million in equity before selling it and collecting $741 million.
Sun Capital and Bain declined comment.
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