Kroll Advisory secures rescue deal for Eve Sleep

Kroll Advisory has secured a rescue deal for Eve Sleep as Bensons for Beds has purchased the company for an undisclosed sum, after entering administration yesterday (17 October).

Under the transaction, Bensons will acquire Eve Sleep’s intellectual property, the evesleep.co.uk website and all creative, content and communication assets.

Bensons intends to retain Eve Sleep as a standalone brand and will re-launch evesleep.co.uk later this month.

The company said the acquisition will widen its appeal and is a measure of its ambition as it continues to invest in its retail, manufacturing, digital and distribution operations.

The acquisition comes weeks after Bensons secured additional investment from owners Alteri Investors to drive its growth strategy and transformation plans.

Nick Collard, Bensons for Beds CEO, said: “Eve Sleep is a brand that we know resonates strongly with key customer groups and we’re looking forward to unlocking its full potential as it takes advantage of our scale and reach.

“With the backing of our owner, Alteri Investors, this is another indication that we are delivering on our pledge to fulfil the promise of the Bensons for Beds brand itself – not just as a retailer of market leading proprietary brands, but with a distinctive and coherent set of owned brand sleep solutions for any customer, both digitally and through our stores.”

Gavin George, CEO of Alteri Investors, added: “It is encouraging to see Bensons continuing to strengthen its position in what remains a challenging market.

“Eve Sleep is a strong brand name that resonates with a different demographic of younger consumers. Alteri is pleased to back Bensons’ management in the acquisition of a brand which will augment the group’s offer, widen its appeal and boost its digital credentials.”