Kurlon Enterprises Limited and Furlenco Furniture, an online furniture retailer, have been acquired by Sheela Foam Limited, a maker of polyurethane foam used in Home Comfort products.
The acquisition of Kurlon Enterprises Ltd. will assist Sheela Foam in expanding its clientele and giving it a pan-Indian presence, while the agreement with Furlenco will allow it to enter the rapidly expanding market for branded furniture and furniture rentals as well as provide it with the chance to expand its operations in the furnishings business, as reported by Entrepreneur.com.
“With the coming together of Kurl On, Sheela Foam will further cement its leadership position in the modern mattress market. The investment of Furlenco would give it a very strong entry into the branded furniture market, and a much bigger market than its existing market. With these two within its fold, Sheela Foam is at an inflexion point, where opportunities created by inorganic activity would greatly strengthen the business model and propel a higher level of organic growth,” said Rahul Gautam, chairman and managing director, SFL.
“The Kurlon deal gives Sheela Foam an undisputed leadership across major product categories with its flagship brand Sleepwell’s strength in foam, and acquired brand Kurl-on’s strength in rubberised coir; wherein both these companies are leaders in their respective product segments,” Sheela Foam said, adding it would now command a combined market share of around 21% in the modern mattress market in India.
About Sheela Foam
Sheela Foam Pvt. Ltd. was founded in 1971 by Sheela Gautam. The first company in India to manufacture, export, and wholesale PU foam With operations in India and Australia, they have solidified our position as one of the top 5 manufacturers of slabstock PU foam in Southeast Asia by building on our extensive industry experience and manufacturing quality.