An independent West Midlands furniture company has acquired a counterpart in the east of the region.
Walsall-based retailer Comfort Beds has bought out Derbyshire outfit Richardsons Furniture as part of a plan to widen its network of stores over the next few years.
Comfort Beds, which has stores in Walsall and Sutton Coldfield, was founded in 1992 by husband and wife duo Lisa and Darren Smith.
It sells beds and mattresses, sofas, divans and bedroom furniture from brands such as Silentnight, Sleepeezee and Rest Assured.
Alongside its retail operations, the business also offers a wider range of services to customers including the disposal of old beds and even a new bed set up service.
Richardsons Furniture, which is based in Swadlincote, sells modern and traditional style furniture including lounge suites, dining rooms and bedrooms.
It is also a specialist retailer of orthopaedic chairs which it primarily supplies to care and residential homes across the region as well as private customers.
The deal provides Comfort Beds with a well-established footprint in the East Midlands region, bringing an additional 140 years of expertise to the firm and a customer base covering Derbyshire, Staffordshire and Leicestershire.
Mrs Smith said: “We know just how important it is to have the right bed and we’ve seen an incredible uplift in demand for our products over the last few months as people opt to spend money improving the comfort of their homes, rather than going out or taking holidays.
“The acquisition of Richardsons Furniture is a great fit for our business and its diverse product range adds a powerful new capability to our existing offering.
“The combined assets of the enlarged store network will enable us to innovate and provide an even more exceptional service to our customers both here in the Midlands and further afield.”
The deal was supported by a £460,000 funding package from Lloyds Bank Commercial Banking.
Relationship manager Mark Corfield added: “Despite the widespread challenges that the retail industry has faced recently, Comfort Beds is a great example of a small local business that is thriving and expanding.
“It has a strong reputation for quality and service that really resonates with consumers and this deal brings many additional strategic and operational benefits that will provide the firm with a sound footprint in the East Midlands from which it can further grow its market share.”