Fast-growing GNG Group acquires part of foam products maker out of administration
In a move set to boost its medical and consumer mattress division, GNG Group has acquired the assets of a foam mattress and furniture products manufacturer out of administration.
The Foam Company, based in Abingdon, has been making foam, memory foam and latex components for use in furniture for more than 30 years, as well as being a manufacturer of mattresses.
The company was placed into administration on 28 February 2022 following the withdrawal of a key mattress brand, Mammoth, that it was making under licence.
On 10 March, a deal was completed for GNG Group, which manufactures and supplies foam-based products, to acquire the company’s assets and intellectual property.
Darren Potterton, Group Managing Director of GNG Group, commented: “GNG can confirm that the assets will be integrated into our existing operations and current expansion plans.
“We also consider the company’s Sleepshaper and luxury Sonlevo mattress brands to be a good fit with our product ranges, offering great potential for future development.
“The machinery will be relocated from Abingdon (Oxfordshire) to our new manufacturing facilities in West Yorkshire, where we are expanding our Mattress Division to increase production by up to 300 per cent with this increase we hope to reach out and try to work with some of The Foam Company team in the future.
“Needless to say, these are exciting times for the GNG Group as we continue to build our business opportunities here in the UK and also within our growing export markets.”
Headquartered in Wakefield, GNG Group was established in 1987 and primarily serves the medical, consumer and sports sectors. It has grown into a £10m turnover business, employing more than 90 people.
GNG’s medical and consumer mattress division includes its Komfi vacuum-packed mattress brand. Last year the firm took delivery of new automated machinery at its Wakefield plant as part of its investment into its beds division.
As an NHS approved supplier, GNG has remained fully operational during the pandemic, producing medical mattresses on a dedicated manufacturing line, 24 hours a day, seven days a week.
Darren Potterton was promoted to the position of Group Managing Director last year.
