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Exhibit 99.1
CRESCENT SLEEP PRODUCTS COMPANY JOINS SLEEPMASTER L.L.C.
Linden, N.J., June 30 -- Sleepmaster L.L.C. ("Sleepmaster"), located in
Linden, New Jersey, has acquired the stock of Crescent Sleep Products Company
("Crescent"), a Serta licensee. Crescent will continue to operate under its
current management, with Hamp Culler as president.
Charlie Schweitzer, president and CEO of Sleepmaster, said of the
acquisition:
"This is a wonderful opportunity to join forces with a quality
organization. The addition of Crescent Sleep Products to our organization
increases our geographic diversification to include nine additional states
serviced from three state-of-the-art manufacturing facilities, and further
enhances our ability to maximize efficiencies. The Crescent organization brings
to Sleepmaster a wealth of manufacturing expertise and some of the most
technologically advanced factories in the country. Combined with its rich
history of outstanding sales and service, Crescent is a valuable new partner,"
concluded Schweitzer.
Including the acquisition of Crescent, Sleepmaster will operate out of
eleven manufacturing facilities covering more than 1.4 million square feet,
service twenty-seven states and generate more than $350 million in annual
sales.
