Advent International, a U.S. private equity firm, is exploring options for its mattress business King Koil China including a potential sale that could value the unit at about $1 billion, according to people with knowledge of the matter.
The buyout firm is talking to advisers about a prospective deal that could also include an initial public offering, the people said, asking not to be identified as the matter is private. Another option under consideration is to consolidate King Koil China with the Chinese unit of Serta Simmons Bedding LLC, the largest distributor and manufacturer of mattresses in the U.S., before proceeding with a sale or IPO, said one of the people.
