Ashley Home, an affiliate of Ashley Global Retail, has acquired Resident Home – the owner of Nectar, DreamCloud, Awara and Siena brands. The transaction was approved by the board of directors from both companies and officially closed on Wednesday, according to the company. As part of the deal, Resident co-founders and co-CEOs, Eric Hutchinson and Ran Reske, will remain in their current positions. The acquisition by Ashley will give Resident, known for mattresses, the opportunity to expand its home furnishings assortment and global footprint. “We are incredibly excited about the possibilities that Resident brings to Ashley,” Todd Wanek, CEO of Ashley, said in a statement. “In only a few years, Resident has established itself as a premier destination for mattresses, and we believe this merger will strengthen both companies and accelerate our growth trajectories, together bringing more products to more homes.”
Leave a Reply