COLOMBIA - Colchones Paraíso, specializing in solutions for rest and sleep segment, announced the acquisition of Muebles & Accesorios, manufacturer and retail of home furniture.

Each of the two companies is headquartered and operates production plants in Bogotá and its surroundings. The value of the transaction was not informed.

Manuel Bronstein, president of Grupo Dream Rest, owner of Colchones Paraíso, stated to the press, “We are proud to announce this excellent news. We are adding leadership, knowledge, experience and high quality standards. What is coming now is the development of our strategic expansion plan.”

Founded in 1969, Colchones Paraíso currently has more than 130 points of sale nationwide under the franchise model. In addition, its products are distributed in more than fifty stores, mainly in department and home improvement store chains. In 2016, Grupo Dream Rest, holding of Paraíso, reported sales of COP 57.8 billion (USD 20.3 million) .

For its part, Muebles & Accesorios is a company with 32 years in the market that operates a network of ten stores located in Bogotá and neighboring municipalities. Its manufacturing plant has a built area of 17,000 m2 located in the municipality of Sopó, some 38 kilometers from Bogotá. Sales of Muebles & Accesorios in 2016 reached COP 46.3 billion (USD 16.2 million).

For 2018 the sales forecast for Colchones Paraíso, taking into account the contribution of Muebles & Accesorios should reach COP 200 billion (USD 70.2 million). The president of the Dream Rest Group also said that the company should become the second largest manufacturer and distributor of home furniture in Colombia as it will complete 230 stores, 1700 employees and 40,000 square meters in production areas. 

In Colombia the largest home furniture store chain is Jamar with sales of COP 292.2 billion (USD 102 million) in 2016. Headquartered in Barranquilla Jamar operates 13 stores in Colombia and another four in Panama and has more than 1000 employees.