Sheela Foam Acquires Kurl-on And Furlenco Furniture Kurlon Enterprises Ltd.'s (KEL) acquisition will help Sheela Foam to diversify customer base and extend to a pan India footprint, whereas Furlenco deal will help Sheela Foam to enter the branded furniture and furniture rental market, as per the company

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

Sheela Foam Limited (SFL), a Home Comfort products company Polyurethane (PU) Foam manufacturer, has announced two simultaneous deals, with controlling stake in Kurlon Enterprises Limited and a stake in Furlenco furniture, an online furniture brand.

According to an official release, SFL is acquiring 94.66% shareholding in KEL at an equity valuation of INR 2150 crore. The indicative time period for the completion of the acquisition is by or before 30th November 2023.

Furthermore it added, SFL is also investing in 35% shareholding in HOK-Furlenco for an equity valuation of INR 857.14 crore. The indicative time period for the completion of the investment will be by or before 30th August 2023.

"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.

Kurlon Enterprises Ltd.'s (KEL) acquisition will help Sheela Foam to diversify customer base and extend to a pan India footprint, whereas, Furlenco deal will help Sheela Foam to enter the fast-growing branded furniture and furniture rental market, and an opportunity to further diversify its presence even in the furniture sales market and become a full portfolio company in the segment, the company added.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

Over 1,300 Google Employees Have Signed a New Petition Asking For Job Security

Google laid off thousands of employees in the past two years, which has left some employees feeling insecure about keeping their jobs.

Business News

Barbara Corcoran Says She Doesn't Look at Resumes: 'Always Hire Attitude Over Experience'

If you think you need a strong resume to work with real estate pioneer Barbara Corcoran, think again.

Business News

OpenAI Says AI Industry Disruptor DeepSeek May Have Copied Its Work as Rivals Race to Catch Up

Competitor Alibaba, meanwhile, says it has developed a model that's even smarter than DeepSeek.

Taxes

4 Tax Strategies Every High-Earning Entrepreneur Needs to Know for 2025

It is not a secret that many high-earning entrepreneurs feel shaken when tax season rolls around. The rules are constantly changing, and the stakes are high. Yet this upheaval also opens up exciting avenues to optimize your financial outcomes through proactive tax planning.

Productivity

Want to Be Successful? Stick to a Schedule.

Figuring out how to effectively allocate the 24 hours in a day can be one of the most challenging tasks of a business owner.

Growing a Business

5 Ways to Build a Partner Network That Organically Fuels Your Growth

This article outlines strategic approaches to building a partner network that drives organic business growth. It focuses on creating shared value, leveraging industry events, and fostering intentional, scalable collaborations.