Article: Simmons Completes Sale of Sleep Country USA to Sleep Train.

ATLANTA, Aug. 30 /PRNewswire/ -- Simmons Company, a leading manufacturer of premium-branded bedding products, today announced the completion of the sale of Sleep Country USA, its retail sales business, to an affiliate of The Sleep Train, Inc., a leading bedding retailer, for approximately $55 million in cash. The proceeds of the sale will be used for general corporate purposes.

As previously announced, Simmons entered into a multi-year supply agreement with the combined Sleep Train and Sleep Country USA entities. This agreement is expected to generate purchases in excess of $300 million.

"We are pleased to complete this transaction with Sleep Train, ...

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