Private equity firm Citic Capital Partners said on Monday it has acquired a controlling stake in Chinese mattress maker and retailer King Koil Shanghai Sleep System.
The investment was made through Citic Capital China Partners II, L.P., its second China-focused buyout fund. Citic Capital Partners is the private equity arm of Citic Capital Holdings.
Shanghai-based King Koil sells mattresses to hotels and retail customers and is the exclusive licensee of brands such as “King Koil”, “Aireloom”, and “Life Balance” in China.
“King Koil is a leading player in the premium mattress segment with strong brand recognition and a highly-skilled management...