KPS
KUALA LUMPUR: Kumpulan Perangsang Selangor Bhd
(KPS) is venturing into the mattress business by buying a 60% stake in the King Koil mattress brand licensing business.
KPS announced on Friday it would acquire the stake in the licensing business in Kaiserkorp Corporation Sdn Bhd for US$28.80mil or RM115.93mil cash.
KPS said King Koil was founded in 1898 in the US as “US Bedding” before it assumed the name of King Koil in 1930. King Koil Licensing Company Inc. (KKLC) in Delaware, US owns the King Koil and other related trademarks
“KKLC currently has presence in over 80 countries via 31 Licensees, with its headquarters in Illinois. King Koil has a long-standing relationship with the International Chiropractors Association (ICA).
KPS said with King Koil’s global business expansion plan and its pursuit to increase the visibility of the brand, it saw the opportunity to invest in the licensing business operations of King Koil.
"KPS’s investment would be via the acquisition of the 60% equity stake in Kaiserkorp, the ultimate holding company of KKLC," said KPS.
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